Hibernian have rejected a second bid from Celtic for midfielder John McGinn, Sky sources understand.
The improved offer is understood to be around £1.75million after an initial offer of £1.5m was knocked back last week.
"We have rejected two bids from Celtic," head coach Neil Lennon said.
"Our club has a valuation of the player. I don't know what that is, but obviously Celtic have not met the valuation that Hibs want."
Hibernian take on NSI Runavik in the Europa League first qualifying round at Easter Road on Thursday, and Lennon confirmed the midfielder will be in the squad.
"He's been all right," Lennon said. "Obviously it is difficult. Listen, I have been a player myself, so it's difficult dealing with speculation.
"Obviously when a club as big as Celtic come in for you there is always that anticipation, from his point of view, of maybe making that step forward, if you want to call it that.
"However, he has to be professional. We have had a couple of chats over the piece about it. He will just have to wait and see how it develops because he is our player, and he's a very important player for us."
McGinn - capped nine times at the senior level for Scotland - has just one year remaining on his current deal and has attracted interested from a number of clubs, including some from the Premier League.
The 23-year-old joined Hibs from St Mirren in 2015 and has made 132 total appearances since then, scoring 15 times and helping the club win the Scottish Cup in 2016.