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The tabloid claims that the Gunners boss has developed a keen interest in the Bosnia international since the extent of Robin van Persie's injury came to light.
Apart from adding some aerial ability following the summer departure of Emmanuel Adebayor, Dzeko would bring with him a sensational goal-scoring record. He bagged 36 goals for his club last season, and has already scored 13 this time around.
The 23-year-old recently signed a fresh four-year contract with the German champions, but it is said that he will look to greener pastures if his club crash out of the Champions League in the group stage.
Meanwhile, Arsenal have reportedly agreed to a £1.7m deal with Juventude for the signature of 17-year-old Brazilian hotshot Zezinho.
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