The Italian spent the second half of last season on-loan at Juventus, after he was exiled by Southampton following a training ground bust-up with team-mate Jose Fonte which left the defender with a broken nose.
Osvaldo struggled to make an impact at the Serie A champions, scoring only one goal in 11 appearances for the club.
The 28-year-old however has still managed to catch the eye of a handful of Italian sides including Inter Milan and Napoli, but it was Sampdoria who were considered the frontrunners due to their willingness to pay cash up front for the player, rather than seeking a loan deal.
But any interest in the Saints striker could now be all but over, following events in Milan this evening.
Sampdoria club president Massimo Ferrero was absent from the Serie A fixtures ceremony, with much speculation to suggest a meeting with Bergessio's representatives the reason behind his lack of attendance.
Should a deal for the Catania forward be completed in the coming days, it would surely rule Sampdoria out of the race for Osvaldo.
Inter Milan are now considered the favourites to sign the Southampton outcast, but the Saints may have to settle for a loan deal with the Nerazzurri unlikely to offer a permanent solution to the problem at this moment in time.