The 19 year old, who is also being linked with moves to Watford and Middlesbrough, is believed to be available on a 12 month loan deal.
Speaking about the prospect of adding to the squad before the deadline at the end of the month, Coyle said: "We're always open to try and add to our squad.
"We want a squad that has strength in depth and means that if we get one or two niggling injuries we can replace quality with quality. That's what we're trying to build here at Wigan Athletic.
"Our eyes and ears are always on the transfer market to see if we can add to the squad."
"Nick Powell is a fantastic player, but it's not for me to be speaking about Manchester United's players.
"We're in the market to try and add quality to the squad and we'll see where the next couple of weeks take us."
Loan deals were something of a Coyle speciality during his time with Bolton as he brought in both Jack Wilshere and Daneil Sturridge during his time with the club.