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Skysports.com understands Liverpool are preparing a bid for PSV Eindhoven forward Ola Toivonen.
New Reds boss Roy Hodgson has admitted he is keen to bolster his attacking options and Toivonen is thought to be top of his wanted list.
Toivonen is regarded as one of the best young players in Europe after catching the eye for club and country in the last few years.
The Swedish international only joined PSV in January 2009 and he has netted 24 goals in 49 appearances for the Dutch giants.
Liverpool scouts have watched Toivonen in action on a couple of occasions and Hodgson is thought to have cast an eye over him as he scored in Sweden's win over Scotland last week.
The 24-year-old has started the season in fine form with five goals in his first two games for PSV and a number of top clubs are believed to be monitoring his situation.
However, Liverpool are ready to steal a march on their rivals by making a bid in excess of £10million for the versatile attacker.
PSV are reluctant to lose Toivonen, but Liverpool are prepared to make a mega bid to force the Dutch club's hand and take the Swede to Anfield.
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Steven Gerrard felt Liverpool's first-half performance in their 3-0 win at QPR was one of their best.