Gunners scouts have watched former United striker.
Arsenal are monitoring former Manchester United striker Mame Biram Diouf and could bid for the Hannover striker before the end of January, fanatix has learnt.
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Diouf spent three unsuccessful seasons in English football after joining United from Norwegian outfit Molde in 2009.
But the 25-year-old has excelled for Hannover this season, bagging eight goals in just 11 Bundesliga appearances, including a stunning bicycle kick against Schalke earlier this month.
The Senegalese has also scored three times in as many starts in the Europa League and fanatix understands that scouts from the Emirates Stadium have watched the fleet-footed striker on a number of occasions during the current campaign.
Wenger is considering making a late move for the Senegal international and believes mid-table Hannover could be tempted to sell for around £10m, despite their continued participation in Europe.
Diouf, who made just five appearances for the Red Devils and spent a season on loan at both Molde and Blackburn Rovers, feels he has unfinished business in the Premier League and is interested in a move to the Gunners.
Wenger wants to add another striker to his squad before the close of the transfer window on Thursday but top target David Villa is likely to stay with Barcelona, while the Frenchman is reluctant to pay £15m for Adrian Lopez of Atletico Madrid.
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