Despite previous rumors that Andros Townsend is one of the players that Tottenham Hotspur are willing to sell for the right price, Southampton had a bid of £10m rejected. As it turns out, that might be because Spurs know that the Saints were going to come back in with a bigger offer.
According to The Mirror, Southampton aren't done bidding for the England winger. They say that Ronald Koeman wants to make another offer for Townsend, and he's unlikely to be rebuffed by the powers that be. Southampton has some money to burn.
If Spurs really are interested in Memphis Depay, Bernard, Florian Thauvin or any other similarly aged/skilled/priced winger, they're probably going to sell someone. They'd obviously prefer for that to be Nacer Chadli, but there doesn't appear to be any kind of a market for him. If the club doesn't see Townsend as a future star, taking £12m or so for him right now isn't a terrible idea.
And then there's the Morgan Schneiderlin thing. If each club has something the other wants and the players to replace the guy they'd be losing, I'm not sure why Spurs and Southampton don't agree on a deal of Townsend plus £8m for Schneiderlin and call it a day.