Jeffers is known to relish a move back north, after failing to settle in to Arsenal. The londoners payed £10m for Jeffers just two years ago.
Everton and Arsenal will talk more over the weekend, but it looks like a loan deal is on. My best bet is that Arsenal won't have actually finished paying for Jeffers Yet, which will mean that Everton will have to spend comparitavly little to buy him. He is currently valued at around £4m.