Southampton have had a £17.6m transfer offer for Guido Carrillo rejected by AS Monaco, according to Sky Sports.
Mauricio Pellegrino is looking to reunite with the 26-year-old striker after the pair worked together at Estudiantes in Argentina.
However, Monaco are standing firm and Carrillo, who has been linked with a move away from the Stade Louis II for a number of weeks, won't be allowed to leave the club until a bigger offer is put on the table.
Carrillo would certainly offer Southampton something different in attack, with the Argentine being able to give the club an aerial threat while Charlie Austin remains injured.
However, the Argentine striker won't be seen as an alternative to long-term transfer target Theo Walcott, with the former Arsenal winger completing a £20m move to join Everton over Southampton earlier this month.
Carrillo first moved to AS Monaco in 2015, leaving boyhood side Estudiantes for €9m. The striker had a far from impressive goalscoring record at the Estadio Ciudad de La Plata, however, Pellegrino's former striker was seen as one of the best Argentine prospects during his time with Los Pincharratas.
Despite not being the household name that fans would have been hoping to be linked with a move to St Mary's Stadium, Carrillo will offer Southampton something unique in attack and could get the best out of Manolo Gabbiadini, Sofiane Boufal and Nathan Redmond.