Bolton manager Owen Coyle made a move for Liverpool striker David N’Gog, but Kenny Dalglish rejected the 4m offer for the Frenchman.
Coyle wanted to increase his attacking options before the summer transfer window closesat the end of the month, having lost Johan Elmander to Galatasaray and Daniel Sturridge to Chelsea.
Wanderers have been linked with a number of players in recent weeks including, Shaun Wright-Phillips and Tuncay.
The latter is expected to complete a move to the Trotters in the coming days and N’Gog was seen as the last player to complete the pieces for Bolton.
Last season the French Under 21 international forward made 38 appearances for the Reds in all competitions and scored eight goals.