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United are in the process of agreeing personal terms and Malacia could have a medical as early as the weekend - with the club confident of finalising the move in the coming days.
A package worth around an initial £13m, with a further £1.7m in add-ons and a potential sell-on clause was agreed with Feyenoord for the 22-year-old earlier this week.
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United accelerated their interest in Malacia in an attempt to beat Lyon to a deal and the Dutch club recently confirmed a fee had been agreed.
Malacia fits the profile of player Erik ten Hag wants at Old Trafford and he shares an agency - HCM Sports Management - with Frenkie de Jong; the club's premier target this summer. The same agency also represents Donny van de Beek and Victor Lindelof.
Utd hopeful of Ajax deal for Martinez
Manchester United, meanwhile, continue positive talks with Ajax over the signing of defender Lisandro Martinez.
United are hopeful they can come to an agreement over a price.
It is thought Martinez would be keen on a move to Old Trafford to once again work with Erik ten Hag.
Arsenal are also very interested in Martinez and were expected to bid for him.
Bailly wants to stay at Man Utd despite Fulham interest
Fulham want to sign Eric Bailly and have approached United about the defender's availability, with the newly-promoted side interested in a season-long loan with the option to buy.
But a source close to Bailly has told Sky Sports News he is not interested in going anywhere at the moment and would prefer to stay at Old Trafford to fight for his place.
Sky Sports News understands Manchester United are open to doing business on Bailly, but would prefer a sale - or at least a loan with an obligation to buy.
The 28-year-old signed a contract extension last year and is due to remain at the club until 2024.
Sky Sports News understands prior to signing the extension, Bailly feared the club were offering him a new contract in order to secure a larger transfer fee in the event of his departure.
Follow the summer transfer window with Sky Sports
Who will be on the move this summer before the transfer window closes at 11pm on September 1?
Keep up-to-date with all the latest transfer news and rumours in our dedicated Transfer Centre blog on Sky Sports' digital platforms. You can also catch up with the ins, outs and analysis on Sky Sports News.