Defending Premier League champions Manchester City remain in the hunt for reinforcements with the Aug.31 transfer deadline looming.

The Citizens have an interesting situation developing in their attack. The Times reported that Arsenal are monitoring Edin Dzeko, while Theo Walcott may be moving to the Etihad in what could be regarded as a swap.

Walcott had reportedly rejected a contract from Arsenal, and is expected to leave the Gunners this week. City are considered the frontrunners to land the England winger, who has a price tag of £15 million. Liverpool and Chelsea are also in the running for Walcott, according to reports.

Dzeko's possible move to Arsenal is rather unexpected. The Gunners had not been linked to Dzeko this summer, as Juventus and Tottenham were viewed as more likely destinations for the Bosnian striker. In July, the Daily Mail reported that Juventus were preparing to offer £20 million for the 26-year-old star.

Should Arsenal land Dzeko, City would likely receive less than £20 million, considering Arsenal have never paid that high of a transfer fee.

While Roberto Mancini's attack has garnered recent speculation, City may also be close to adding a defender.

Mancini has long targeted Matija Nastasic, and ESPN reported that a deal is perhaps imminent. The Serbian starlet is expected to move from Fiorentina for roughly £12 million.

The deal could mean that centre back Stefan Savic may go to Fiorentina, or possibly move to Wolverhampton.

The Daily Mirror reported that Javi Garcia is a City target, as well. The 25-year-old Spanish midfielder has been with Benfica since 2009, and is valued at roughly £17 million, though that number has a caveat. Garcia has a £24 million buy-out clause in his contract, and Benfica are not budging from it.

"Javi only leaves for this figure. It is non-negotiable," club president Luis Filipe Vieira said.

City had shown interest in Garcia in February, according to Sky Sports, but he has not received much transfer attention from other clubs this summer. Manchester United and Arsenal had previously been liked to Garcia in 2012.