Juventus want to strike a £15million deal for the Italy striker, but Italian newspaper Gazzetta dello Sport claims that the Turin side have been informed of rival interest from the Barclays Premier League leaders.
Fiorentina want to sign Italy Under 21 striker Federico Macheda from United and could try to incorporate him in a swap deal for Gilardino.
Highly rated: Macheda (right) is wanted by a host of clubs in England and Italy
However, Sir Alex Ferguson is reluctant to sanction anything other than a loan deal for 19-year-old Macheda, who has been praised highly by the Old Trafford boss.
Wolves, Bolton and Fulham are keen to take Macheda for the second half of the season, but a return to Italy is favoured by the player.
A move for Gilardino would seem surprising, but Gazzetta claims that Ferguson is frustrated by Dimitar Berbatov's inconsistency, despite a recent good run of form for the Bulgarian.
Michael Owen could leave United at the end of the season, but United already have emerging attacking options such as Javier Hernandez, Danny Welbeck and Mame Biram Diouf.
Gilardino has scored five goals in 14 Serie A games this season, but has not hit more than 20 league goals in a season since leaving Parma for AC Milan five years ago.
Wolves, Bolton and Fulham in loan scramble for United striker MachedaParma target Macheda and Borini as Wigan and Newcastle eye BojinovBerbatov backed to bring Premier League glory to Manchester UnitedMANCHESTER UNITED FC
Source: Daily Mail
Source: Daily Mail