Arsenal Transfer Rumours - Alex, Cahill, Chu-Young and Dann

After being handed their most severe mauling in a long time, Arsenal are readying themselves for a late charge in the transfer market.

On Sunday, the Gunners were ripped apart in an 8-2 defeat at Old Trafford, in which Manchester United exposed the frailties of Arsene Wenger's side. Defensive gaps and midfield incompetency were all too evident, as United forwarded attack after attack while Wenger looked on from the touchline, painting a picture of helplessness.

It shouldn't come as a surprise that Arsenal are reported to increase the urgency in moving for their long-standing targets, especially in defence.

Arsenal had a reported bid for Bolton Wanderers centre-back Gary Cahill rejected last week, but Wenger is now prepared to go higher after the shambles displayed on Sunday. The manner of Arsenal's loss can be considered as win for Bolton, in that they're in a good position to claim the £17 million release clause on Cahill's contract, although he is already into its final year.

Reports suggest Wenger is set to double his previous offer of £6 million, along with add-ons, and it remains to be seen what Bolton make of it although their manager Owen Coyle revealed that he wouldn't accept a reduced fee.

I won't buckle, the Bolton manager said after his side's 3-1 defeat at Liverpool on Saturday. I've had a chat with Gary and he knows my opinion - we don't have to take poor offers. If someone makes the right offer, then we can do ­business.

Gary is an outstanding player, capable of playing at the very top level. But a transfer has to be good ­business for everyone involved.

According to The Sun, Arsenal have already approached Chelsea about Brazilian centre-back Alex. The player has fallen down the Blues' pecking order since the arrival of David Luiz in January, and although Juventus were interested in him earlier in the summer, the report suggests Chelsea are ready to sell him to Arsenal.

The Blues' value the 29-year-old at £10 million though, while Arsenal see him worth £7 million. The negotiators are expected to arrive at a compromise.

However, despite showing interest in Birmingham defender Scott Dann early in the summer, Arsenal's interest has cooled, according to the Daily Mail, as he was viewed more as a back-up if moves for Cahill, Phil Jagielka and Chris Samba fail to materialize.

One signing Arsenal are set to make is South Korea captain Park Chu-Young. The 26-year-old completed the second part of his medical on Sunday, and the completion of the signing is expected to be made on Monday.

Arsenal snatched the player from under the noses of Lille and it is understood that they offered Monaco more for his services than the French champions. Park had undergone the first part of his medical at Lille before flying to London the next morning, without notifying Lille officials.

I had to make a decision between Arsenal and Lille. And the decision had to be what I want and won't regret, he is quoted as saying.

The flip-side of the whole situation is that it has made Arsenal's relationship with Lille very sour, thereby slamming any potential chance of Eden Hazard making a move to London.

Arsenal are linked to numerous other players including Yann M'Vila, MIkel Arteta, Marvin Martin and even French international Mathieu Valbuena. The next two days will provide all the answers.