Liverpool have rejected a 40 million pound offer by Arsenal to get Luis Suarez, believing it won't be enough to let their ace striker go away.

Arsenal failed to snatch Suarez after their second transfer offer rejected once again by Liverpool. The Gunners' previous transfer offer was valued at $30 million, but the Reds insisted they will not accept any offer for Suarez unless it' over $50 million.

Suarez, who recently re-joined Liverpool after playing for Uruguay at the Confederation Cup, is scheduled to talk with the Reds management following their exhibition match against the Melbourne Victory on Wednesday, according to ESPN.

"Suarez is scheduled to hold talks regarding his future with Liverpool manager Brendan Rodgers in Australia on Wednesday, following a friendly against Melbourne Victory at the MCG," as reported by ESPN FC.

Despite the intensifying transfer talks, Liverpool manager Brandon Rogers remains optimistic that Suarez will stay put with the ball club and honor his contract which runs till 2016.

Arsenal signed Suarez from Ajax for 22.8 million in 2011, but the forward has grown frustrated with the British media and later on announced his desire to leave Anfield at the end of the 2012-2013 season.