The Toffees look set to go head-to-head with Southampton who have also confirmed their interest in signing the 28-year-old in January.
Arsene Wenger has already said this month that he’d like Walcott to stay at Arsenal, however, behind closed doors, the club do appear willing to listen to offers for a player who has not started a single game in the Premier League this season – and who didn’t even start or come on in the Carabao Cup last night.
Given he’s English, comparatively young in age and has pedigree – he’s scored 108 goals for Arsenal – the £20 million price tag seems relatively low. The Toffees were willing to spend far more than that to sign Olivier Giroud in the summer and he’s three years older.
Alexis Sanchez’s Arsenal future could play a part in whether Wenger decides to let Walcott leave, amid reports that Manchester United are now after the Chilean.
With Giroud injured and the Chilean wanted by Manchester City, a departure for the winger could leave the Gunners short of options in the Europa League unless they reinvest in a new talent.