Davies has been a target for David Moyes for the past 12 months, with a deal attempted in January. Despite having played for Spurs this season, it is felt that the player is not part of Mortin Jol's long term plans.
"We have been in discussions with Spurs and have now reached agreement on a fee," Everton chief executive Keith Wyness told evertonfc.com. "But we still have to agree personal terms for the player."Everton agree £4m fee for Davies
It is thought that David Moyes has a kitty of £30m for transfers and wages (for the length of a player's contract), which will equate to around £12m in real transfer fees.