Tottenham Hotspur's pursuit of Leandro Damiao looks to be over after Internacional director Marcelo Medeiros told Globo Esporte that the offer the club had received from the north Londoners had been "below what we wanted".
Speculation about a possible transfer deadline day swoop for Damiao by Spurs was sparked by comments made by Internacional sporting director Luis Cesar Souto de Moura on Thursday.
"Leandro Damiao will only leave if there is a very quick negotiation, but no official offer has been made," Souto told Brazilian newspaper Correio do Povo.
"The news involving interest for Leandro Damiao, especially from Tottenham, will always happen - they come and go."
However, the Guardian reported that Tottenham had failed with a £13.3 million bid for the Brazil striker, with Internacional seeking an offer in the region of £17 million.
"Leandro Damiao won't leave - the offer was below what we wanted," Medeiros was quoted as saying on Globo Esporte.
Spurs boss Andre Villas-Boas was reported to be keen to bolster his frontline, with Emmanuel Adebayor currently at the African Nations Cup and the club relying on Jermain Defoe staying fit.