The Dutchman has a $39 million release clause in his contract with the German club, which appeals to the Reds, and the deal is expected to be wrapped up swiftly following the conclusion of the Bundesliga season this weekend.
Liverpool is in the market for a new right-back following confirmation of Trent Alexander-Arnold's impending departure, which finally came at the beginning of last week.
Alexander-Arnold is leaving to join Real Madrid on a free transfer after allowing his contract on Merseyside to run down; the right-back was booed by thousands of fans inside Anfield upon making his first appearance for the club since announcing his exit.
There will be more to follow on this breaking news story and Liverpool.com will bring you the very latest updates, pictures and video as soon as possible.