Liverpool had invited Forren to England for a trial, but Southampton appear to have moved ahead of Brendan Rodgers' side in the race for the 24-year-old.
Forren's agent is reported to be meeting representatives from the Barclays Premier League strugglers in London on Tuesday in the hope of agreeing personal terms.
Molde boss Ole Gunnar Solskjaer had earlier told Romsdals Budstikke: "There have been many enquiries from various English clubs, but Southampton submitted an offer, it was very interesting for us and Vegard.
"We are more or less agreed with the club, but nothing is a hundred per cent confirmed.
"Molde is close to a deal, so we'll see if this is something that all the three parties will go on."
It is understood that Southampton are hopeful of completing the signing of the defender, who has five Norway caps, in the next 24 hours.
Forren joined Molde in 2007 and went on to become one of the club's star players.
The tall centre back has played close to 150 games for Solskjaer's side and last year helped the club win their second domestic championship.
Southampton manager Nigel Adkins sees Forren as the solution to his team's defensive woes this term. The south-coast club may have moved out of the relegation zone in recent weeks, but they have conceded 38 goals in 21 Barclays Premier League matches so far this season.
However, Southampton could face competition for Forren's signature with Queens Park Rangers also thought to be weighing up a move for the 24-year-old.
QPR boss Harry Redknapp is in the market for defensive reinforcements with Ryan Nelsen set to leave for Toronto FC and he could make a move for Forren.
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