Arsenal are reportedly in talks with Gremio winger Everton Soares.
New Gunners technical chief Edu has identified the Brazilian as a top target this summer.
Everton impressed for the Samba Boys during their Copa America campaign and was named man of the match in their 3-1 win over Peru in the final.
Brazilian publications UOL and GloboEsporte claim Edu spoke to the player's agent earlier this week over a potential move to the Emirates.
They claim the Gunners are now weighing up a formal offer for the 23-year-old forward.
Manchester United have also been credited with an interest in Everton, who still has three years remaining on his deal with the Serie A outfit.
Meanwhile, Arsenal have reportedly launched an improved offer for Celtic left-back Kieran Tierney.
The Gunners had a £15m bid rejected for the Scotland defender last month, with Celtic holding out for closer to £25m.
Napoli looked set to battle Arsenal for Tierney but the Mail reports another offer has been made to the Scottish champions.
Unai Emery's men have reportedly returned with an offer that reaches the £25m on appearance based add-ons, although it doesn't give Celtic that figure up front.
Celtic's resolve is likely to be tested with the offer with the club's board contemplating their next step.
