The Daily Star reported Arsenal's interest for the Atletico Madrid striker at the start of last month.
Many Arsenal fans as well as ex-players agree that France's Olivier Giroud is not enough to aim for important objectives such as the Premier League or the Champions League.
But statistically, the two share similar numbers. The Croatian, 29, scored 143 goals in 310 games in his career with the Frenchman, 28, finding the back of the net 135 times in 309 appearances.
Some might argue that Mandzukic has more experience having played for Wolfsburg, Bayern Munich and Atletico Madrid but the two share many characteristics meaning that boss Arsene Wenger might decide to sign a different type of striker.
The Daily Mail reported this early morning that Manchester United have been offered Mario Mandzukic from Atletico Madrid.
In Italy they are certain that Robin van Persie will sign for Juventus.
The striker was very close to joining the Bianconeri in the summer of 2012 when the club announced that they will make a move for the Dutchman as well as for Luis Suarez but the two never signed for the Italian champions.
This means that boss Louis van Gaal desperately needs to add a striker or two to his squad during the summer transfer window.
Mandzukic seems to be perfect for the Red Devils. He would bring the same level of experience and physicality offered by van Persie and the same amount of goals.
With Carlos Tevez set to leave the club, coach Massimiliano Allegri needs to replace the Argentinean with a top class striker.
According to Tuttosport, a move for Napoli striker Gonzalo Higuain is unlikely since club president Aurelio De Laurentiis is reluctant to sell one of his key players to a rival.
Same applies for Edinson Cavani with Paris Saint-Germain reluctant to sell one of Europe's best strikers to a Champions League rival.
This makes Mario Mandzukic a main target for the Italian champions with Milan also showing interest although the Rossoneri will not play in Europe next season, making Juventus a preferred option for the striker.
Meanwhile, defender Leonardo Bonucci was full of praise for the 29-year-old. Italy will face Croatia in Friday's European Championship qualifier and the two are expected to face each other.
"He is a very modern striker," Bonucci said.
"He can lead the offensive department and can score. For a defender these are exactly those type of players you love to play against because they demand full concentration throughout the whole game.
"It's also true that it's always nice to have such a player in your team rather than against."