Alex Oxlade-Chamberlain is another graduate from Southampton's prolific academy © PA Photos Enlarge

Southampton winger Alex Oxlade-Chamberlain is set to follow in Theo Walcott's footsteps by leaving the Saints for Arsenal.

Reports suggest Oxlade-Chamberlain is to undergo a medical with the Gunners on Monday ahead of a transfer that could rise to a fee of £12 million.

He will become Arsene Wenger's third major signing of the summer, following swoops for Gervinho and Carl Jenkinson, and his arrival will go some way to placate fans who have been frustrated with a lack of transfer activity at the Emirates.

Wenger hinted last week that he was set to bring in a "super quality" signing and, while reports suggested he was alluding to Valencia's Juan Mata or Phil Jagielka, it now appears he was referring to the England Under-19 international.

Oxlade-Chamberlain, who did not feature in Southampton's 3-1 win over Leeds on Saturday, was fined two weeks' wages last month for confirming he wanted to quit the club.

The 17-year-old burst on to the scene last season, capturing the attention of Arsenal, Liverpool and Manchester United with ten goals and two assists as Nigel Adkins' side earned promotion to the Championship.

He was hotly-tipped to make the switch to the Gunners in January, but the two clubs were unable to agree a deal at the time.

His imminent arrival will cast fresh doubt on the future of Arsenal's wantaway midfielder Samir Nasri, as he is comfortable operating in Nasri's favoured berth on the left side of a three-man attack.

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