After missing out on Lazio's veteran Germany striker Miroslav Klose the Gunners turned their attention to the Juventus forward, but he was unwilling to join on loan
Arsenal failed with a late move to sign Juventus striker Mirko Vucinic on deadline day, Goal understands.
Vucinic was not interested in a loan switch and only wanted a permanent transfer to Arsenal or Tottenham, who also expressed an interest in the 30-year-old.
The former Roma man is settled in Turin and did not want to upset his family life midway through the season.
Arsenal are believed to have made an attempt to sign Vucinic after failing to sign veteran German striker Miroslav Klose from Lazio, as revealed by Goal earlier on Friday.
Vucinic has found himself way down the pecking order at the Serie A leaders, who added another striker to their squad on deadline day when they signed Southampton outcast Dani Osvaldo.
Vucinic will compete with Osvaldo, Carlos Tevez, Fernando Llorente and Fabio Quagliarella for a place in the side.