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The Lancashire club are holding out for £15 million for the England international, and Arsene Wenger is believed to have backed off the defender as a result of the valuation

By Greg Stobart and Wayne Veysey

Tottenham are expected to make a bid for Bolton defender Gary Cahill today with Sebastien Bassong set to be offered in part exchange.

Spurs have emerged as the new favourites to sign the 25-year-old before the transfer window closes at 11pm on Wednesday.

Arsenal have bid £11 million including add-ons for Cahill but understands they have now cooled their interest in the centre-back.

Per Mertesacker is set to arrive in London on Tuesday afternoon to complete a £7.9m switch from Werder Bremen and, although Arsene Wenger is still in the market for another centre-half before the transfer deadline, he is ready to drop his interest in Cahill following the bitter row with Bolton over the player's valuation. understands that Wenger is also no longer pursuing Birmingham's Scott Dann, while another move for Everton's Phil Jageilka is considered unlikely.

Bolton are believed to be holding out for £15m for Cahill, a fee that is out of Spurs' price range. However, the White Hart Lane outfit believe they can make up some of the shortfall by offering £6-8m plus Bassong in part-exchange as a ready-made replacement.

Bassong, 25, cost £8m when he signed from Newcastle two years ago but made just 12 league appearances last season after falling out of favour at White Hart Lane.

Spurs value Bassong at around £6m although it remains to be seen whether Bolton would be interested in the centre-back, who is currently on duty with the Cameroon national team.

Tottenham decided to make their move after being thrashed 5-1 by Manchester City on Sunday. They have been tracking Cahill closely for the last year and manager Harry Redknapp watched the England international in person at Bolton's first two Premier League games this season.

Bolton boss Owen Coyle has been preparing for the possibility of Cahill's departure and has already signed Dedryck Boyata on a season-long loan from Manchester City while Nedum Onuoha is also a reported target.

Cahill is thought to have a £17m release clause in his Bolton contract but has just a year left to run on his deal at the Reebok Stadium.

“I can tell you that I won't buckle,” said Coyle over the weekend. “I have had a chat with Gary. He knows my opinion. The bottom line is that we don't have to be taking poor offers. If someone makes the right offer, and I am very fair-minded in this, then we can do business.”

Since joining Bolton in 2008, Cahill has made 114 appearances and scored 12 goals, while he has also made three appearances for England since making his debut against Bulgaria in September 2010.