Speculation suggests Arsenal manager Arsene Wenger is keen on no-nonsense defender Cahill and has indicated the 25-year-old would be a perfect addition to his threadbare squad, which has been depleted by injuries to Sebastian Squillaci and Thomas Vermaelen.
Bolton head coach Owen Coyle had previously valued the one-cap England international at £17m but Cahill could leave the Reebok Stadium for an initial fee of £10m plus add-ons.
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