Megson is battling to complete a deal for Elmander after finally being given the green light by Toulouse who want Norwegian misfit Daniel Braaten in return.
Sweden's Johan Elmander, left, and Russia's Diniyar Bilyaletdinov, right, vie for the ball at Euro 2008
Megson held talks with the 27-year-old over the weekend and chairman Phil Gartside will fly out to France tomorrow to try and complete the deal.
Elmander has been hunted by Wanderers boss Megson ever since Nicolas Anelka's departure to Chelsea in January.
Bolton also maintain interest in Lyon's Milan Baros and Manchester United's Louis Saha.
Hull have missed out on signing Bolton keeper Ali Al-Habsi with the Omani international set to sign a four-year deal at the Reebok.
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