Manchester United will offer Everton £15m and winger Antonio Valencia for England left-back Leighton Baines in January, according to the Mail on Sunday.
United boss David Moyes is determined to reunite with his former player, who was reportedly keen on a move to Old Trafford in the summer.
The 28-year-old, who has been at Goodison Park since leaving Wigan Athletic in 2007, was one of United's main transfer targets during the summer transfer window – but the Premier League champions failed to land the full-back after bidding below Everton's valuation.
Indeed, an early joint bid United made for Baines and Marouane Fellaini – believed to be £28m – was slammed by the Toffees as "derisory and insulting".
United went on to spend £27.5m just on Fellaini, while Moyes also failed in a late bid to bring Real Madrid's left-back Fabio Coentrao to Old Trafford on a season-long loan deal.
It's currently unclear whether Valencia, the former Manchester United No. 7, would welcome a move to Goodison Park.
The Ecuador international has generally impressed at United since joining the club in 2009, but struggled to make an impact last term.