According to UK Independent reports, Arsenal on Monday increased their bid for the Crystal Palace forward.
But it is understood that the Gunners have seen their £65m plus youngster Reiss Nelson on loan offer rejected.
Unai Emery is hopeful of getting the deal over the line, but Arsenal’s bid of £55m paid upfront and £10m in add-ons, is still short of the Eagles’ valuation.
However, Palace could also be interested in the possibility of having Nigeria-eligible winger, Bukayo Saka, joining on loan as an alternative to Nelson.
Saka’s performances for Arsenal especially in last season’s UEFA Europa League, have impressed some European clubs.
The winger was in action for 63 minutes in Arsenal’s recent International Champions Cup match against Fiorentina, which they won 3-0.