The denial occurred after Tangerines boss Ian Holloway announced that he would report an unnamed Premier League club for their unauthorised conduct with the player.
Phillips was an integral player in Blackpool's run to the Championship play-offs last season and Holloway is keen to keep hold of his key men.Adkins has confirmed his club's interest but strenuously denied that any wrongdoing had gone on.
"We do everything properly and by the book," Adkins told BBC Radio Solent.
"I know our chairman has tried to contact Blackpool's chairman.
"We've had a conversation with the chief executive and I've spoken to Ian Holloway myself.
"We will conduct our transfer business privately behind the scenes. Obviously this situation has now arisen and we will take action on that and respond in the appropriate manner."