The 22-year-old could be set to leave Old Trafford following the £74 million arrival of Benjamin Sesko from RB Leipzig.
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AC Milan are understood to be keeping close tabs on the Denmark international but are yet to lodge an official bid for Hojlund.
According to the Daily Mail, Massimiliano Allegri’s side could be set to miss out with Fulham set to make a move.
The West London club are preparing for life without current number nine Rodrigo Muniz, who has earned interest from Atalanta.