The experienced centre-back was part of the Germany side that won the World Cup in Brazil this summer.
The 26-year-old has also long been regarded as one of the best defenders in the Bundesliga, making any deal difficult for the Gunners.
However, according to The Telegraph, Wenger will press ahead with a move this week.
Howedes has been with Schalke since 2001, making his first-team debut in 2007.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Arsenal | 34 | 24 | 5 | 5 | 82 | 26 | 56 | 77 |
| 2 | Manchester CityMan City | 33 | 23 | 7 | 3 | 80 | 32 | 48 | 76 |
| 3 | Liverpool | 34 | 22 | 8 | 4 | 75 | 34 | 41 | 74 |
| 4 | Aston Villa | 34 | 20 | 6 | 8 | 71 | 50 | 21 | 66 |
| 5 | Tottenham HotspurSpurs | 32 | 18 | 6 | 8 | 65 | 49 | 16 | 60 |
| 6 | Manchester UnitedMan Utd | 33 | 16 | 5 | 12 | 51 | 50 | 1 | 53 |
| 7 | Newcastle UnitedNewcastle | 33 | 15 | 5 | 13 | 69 | 54 | 15 | 50 |
| 8 | West Ham UnitedWest Ham | 34 | 13 | 9 | 12 | 54 | 63 | -9 | 48 |
| 9 | Chelsea | 32 | 13 | 8 | 11 | 61 | 57 | 4 | 47 |
| 10 | Bournemouth | 34 | 12 | 9 | 13 | 49 | 60 | -11 | 45 |
| 11 | Brighton & Hove AlbionBrighton | 33 | 11 | 11 | 11 | 52 | 54 | -2 | 44 |
| 12 | Wolverhampton WanderersWolves | 34 | 12 | 7 | 15 | 46 | 54 | -8 | 43 |
| 13 | Fulham | 34 | 12 | 6 | 16 | 50 | 54 | -4 | 42 |
| 14 | Crystal Palace | 34 | 10 | 9 | 15 | 44 | 56 | -12 | 39 |
| 15 | Brentford | 34 | 9 | 8 | 17 | 52 | 59 | -7 | 35 |
| 16 | Everton | 34 | 11 | 8 | 15 | 36 | 48 | -12 | 33 |
| 17 | Nottingham ForestNott'm Forest | 34 | 7 | 9 | 18 | 42 | 60 | -18 | 26 |
| 18 | Luton TownLuton | 34 | 6 | 7 | 21 | 47 | 75 | -28 | 25 |
| 19 | Burnley | 34 | 5 | 8 | 21 | 37 | 69 | -32 | 23 |
| 20 | Sheffield UnitedSheff Utd | 34 | 3 | 7 | 24 | 33 | 92 | -59 | 16 |
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