The Serie A side have made the Belgium international their top target for the summer transfer window but are yet to meet United’s valuation.
ESPN FC reports that their latest proposal has been turned down by the Old Trafford hierarchy, who are holding out for between £80-90 million.
Lukaku has four years left to run on his Red Devils deal and time is running out for him to complete a move, with three weeks remaining before the Premier League transfer deadline.
The 26-year-old wants to join Antonio Conte’s side and United will let him go if a suitable offer comes in, but the latest bid has not met their demands.
The two clubs face off in the International Champions Cup in Singapore on Saturday.
ESPN also claim that United turned down the chance to sign Inter striker Mauro Icardi, who has been put on the market this summer after being told he isn’t a part of Conte’s plans.
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