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The French international, who spent last season on loan at Newcastle, was reportedly also a target for Liverpool and Tottenham, while himself this week admitting he would like to join Chelsea.
But according to Sky News Radio, Arsenal have beaten Remy’s other suitors to the punch, snapping him up ahead of the World Cup which starts in under two weeks.
It is believed the Gunners will have to pay around £10m for the 27-year-old’s services.
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Last summer, it took the Arsenal boss until deadline day to bring in record signing Mesut Ozil, but he appears to have learnt his lesson this time around.
Remy scored 14 goals in 29 appearances for club and country last season and will provide much-needed support for countryman Olivier Giroud.