Arsenal have reportedly withdrawn their interest in signing Lyon midfielder Houssem Aouar and Atletico Madrid's Thomas Partey ahead of Monday night's transfer deadline.
The Gunners have been heavily linked with both players throughout the window and have made at least two concrete offers for Aouar.
However, Lyon rejected Arsenal's "timid" bid last week, while Atletico have also made clear that Partey is not available for anything less than his £45m release clause.
According to The Mirror, Mikel Arteta has now accepted that neither player will be joining this summer, and their pursuit for Chelsea midfielder Jorginho is also over.
Arteta is still expected to sanction the departure of at least one player on Monday, with Matteo Guendouzi wanted by Hertha Berlin and Lucas Torreira a target for Atletico Madrid.