Arsenal have reportedly seen an offer for Newcastle United midfielder Bruno Guimaraes rejected.
The Athletic say the offer was worth less than £60m and was knocked back by Newcastle, who insist they do not want to sell the Brazilian this summer.
Newcastle have also turned down a second offer for midfielder Sandro Tonali from Spurs, according to The Daily Mail.
Spurs are said to want to sign the Italian for £75m, but Newcastle want at least £100m.
Meanwhile, Manchester City have agreed a deal to sign Elliot Anderson from Nottingham Forest for a fee believed to be around £116m.
Anderson is now finalising personal terms and undergoing a medical in New York before signing for City.
The Athletic also report that Forest have identified Spurs midfielder Lucas Bergvall as a possible replacement for Anderson.
Elsewehere, full-back Marco Palestra is scheduled to have his Chelsea medical on Friday ahead of a £43m move from Atalanta.
Inter Milan are eyeing a move for Chelsea defender Trevoh Chalobah, according to Gazzetta dello Sport.
And Liverpool target Yan Diomande says he is not thinking about his future until after the World Cup.
Guimaraes is a bit on the old side at 29 this year. £55million for a player at that age is madness by Arsenal and way over valued. He is a great midfielder, but he is old. That being said, at his age, one would value him for two years of high level playing to the age of 31, so £40m would be a more realistic bid for a two year contract player.