The London Evening Standard says Wenger has admitted he wants “two or three” signings and is now considering moving for a couple of players he has tracked for some time.
Michu enjoyed a hugely successful first season in English football, scoring 22 goals. It is understood that Swansea are reluctant to sell but have valued the 27-year-old at £25m in the knowledge that a bid at that level would be hard to reject, especially with Michael Laudrup still keen to add to his squad.
The club had a £6m offer for Williams rejected this month but believe a deal could be reached at around £10m.
For the big stories and the banter follow us on Twitter: @tribalfootball