The Tigers are believed to have already tabled a bid worth £22.3 million, but Ipswich have now entered the competition with an undisclosed offer, according to reports.
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Emersonn joined Toulouse from Turkish side Goztepe last summer and remains under contract until June 2029.
However, after an impressive debut campaign in Ligue 1, he could be set for a swift move to England. The 21-year-old made 31 appearances in all competitions during the 2025-26 season, scoring seven goals and providing three assists.
A product of Athletico Paranaense’s academy and a former Brazil Under-16 international, Emersonn is hoping strong performances and a potential Premier League move can boost his senior international prospects.