Manager Steve Bruce confirmed his interest in the duo and is confident that a deal for Sagbo can be completed shortly after discussions between the two clubs.
The 25-year-old has scored 30 goals in his three seasons at Ligue 1 side Evian, including one in May's Coupe de France final defeat to Bordeaux, and has been capped once at international level for Ivory Coast.
Bruce told The Hull Daily Mail: "My chief executive is speaking with Evian and we're hopeful that we can get something done because he would be a good addition.
"He's a little bit different to what we've got. He's quick, he's direct and he wants to run in behind.
"It's hard talking about a player who belongs to another club but there has been dialogue and we'll see where it takes us.
"We'll be patient and see what develops."
Bruce has been busy in the transfer window and has completed six signings so far, the latest of which saw striker Danny Graham arrive on a season-long loan from Sunderland.
Palacios is another player Bruce is keen to add to his ranks prior to the start of the Premier League season.
The duo previously worked together at Birmingham City and Wigan Athletic and Bruce said of the 28-year-old: "We're not sure if Stoke are willing to let him go but if he did become available we would be interested of course.
"We have to wait to see if Stoke say he is surplus to their requirements but he's a player I've worked with before and like."