Italian newspaper Gazzetta dello Sport, as quoted by the Daily Mirror, is reporting that Arsenal are eager to sign the 23-year-old from the Serie A giants this summer.
The same article states that West Ham manager Manuel Pellegrini has submitted a bid to sign the powerful striker to bolster his attacking options ahead of the new season.
According to the same story, Arsenal continue to monitor the promising striker and could be set to rival their bitter London rivals in the summer transfer window.
Gazzetto dello Sport add that Ligue 1 side Nice are also expected to launch a bid to sign Niang.
The Milan striker has experience of playing in the Premier League following a stint at Watford.
Arsenal have snapped up Juventus and Switzerland veteran Stephan Lichtsteiner in a free transfer to improve their defence.
The Gunners have also signed Germany goalkeeper Bernd Leno in a £20m deal from Bundesliga outfit Bayer Leverkusen.
Arsenal have also brought in Dortmund defender Sokratis Papastathopoulos and Lorient teenager Matteo Guendouzi.
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