The Welsh International striker is said to be top of Toffees boss David Moyes wish list to replace Rooney should he be forced to sell England's Euro 2004 sensation.
According to the News of the World, Moyes has already held talks with the 23-year-old Bluebird's advisors.
Cardiff would want around £3m up front for the pacy striker with more money based on appearances and a sell-on clause bringing the deal to a potential £4m.
Charlton and Celtic are also said to be interested but Charlton have recently signed Danish winger Dennis Rommendahl leaving less money in the Valley transfer kitty.
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