Romelu Lukaku is a target for West Ham, with joint-owner David Sullivan hoping to pair the striker with Andy Carroll.
West Ham have confirmed that former England striker Carlton Cole will leave the club this summer.
The Pilgrims are currently in the relegation zone, announced the news on their official website.
They have been without a boss since they sacked Carl Fletcher on New Year's Day.
Sheridan has previously been in charge at Oldham and Chesterfield but has been out of work since the latter relieved him of his duties back in August.