We believe Huddersfield have already made an enquiry which was immediately rejected by the Saddlers.
Walsall are said to highly value the midfielder any would require a substantial bid to even consider allowing club and player to meet.
21-year-old Coventry born Paterson has had an impressive few seasons after making his senior debut in August 2010. Coincidentally his first goal for the club came in the November 2011 draw with Huddersfield Town.
Huddersfield hope to sign Pato for a bargain price as he enters the last year of his Walsall contract.