The Bolton News understands the Northampton Town boss, who has recently guided the Cobblers to promotion from League Two, is wanted by the Whites.
Wilder has a rolling contract at Sixfields and would not command a large amount of compensation but the Yorkshireman is also wanted by Rotherham United as a replacement for Neil Warnock, who is expected to step down at the end of the season.
The 48-year-old worked at Bury as assistant manager in 2008 but then moved on to Oxford United, where he spent six years.
He led them back into the Football League before moving on to Northampton Town in 2014.
The alternate option to Wilder appears to be a partnership between Peter Reid – who has been with the club in a coaching capacity for the last few weeks – and former club captain Kevin Nolan.
Jimmy Phillips is also being strongly considered for a role in the new coaching set-up.
Reid is keen to stay on at Wanderers having returned to the club to assist Phillips last month.
And he could be used to mentor Nolan – whose first sample of management at Leyton Orient ended this week.
The 33-year-old has agreed to stay on at the League Two club in a playing capacity but is seeking a return to the North West.
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