The Dutchman is also being targeted by former club Chelsea and Tottenham.
Merson also believes Mikel Arteta should target a holding midfielder when the transfer window opens in the summer.
He told Sky Sports: "They need a centre half and a world-class holding midfielder.
"I think Arsenal need to play with a back three. They're not good enough as defenders to play as a four.
"Ake has pace and he's played in England for a while, so if you brought him in for next season he's not a player who will need time to get used to the league for six months.
"Arsenal need to hit the ground running [next season] and everybody needs to know their jobs in the team."