Arsenal reportedly had a £50m bid thwarted by Bayern Munich after they made an enquiry to buy either Thomas Muller or Robert Lewandowski this summer, according to the Daily Mail.
Arsene Wenger is a big admirer of both the players and had targeted a move to bring one of them to the Emirates Stadium as he looks to bolster his frontline for the ongoing 2015/16 campaign.
The report claims that the north London club were hoping to capitalise on Pep Guardiola's approach, which does not seem to suit the players at his disposal.
However, the Bavarian giants have made it clear that neither of their players are for sale this summer, which reportedly prompted Wenger to make an enquiry over the availability of Real Madrid's Karim Benzema, according to El Confidencial.
Muller has been on Manchester United's radar throughout the summer, with The Guardian stating that Louis van Gaal is keen to bring the German forward to Old Trafford, but their advances have been thwarted with the Bundesliga champions making it clear that he is not for sale at any price.
The French manager is keen to bolster his frontline this summer, as they prepare to mount a title challenge, but he has indicated that he will do so only if a player of exceptional quality becomes available.
According to the Daily Mail, Arsenal have had a bid rejected by the Spanish capital club, but are willing to make another approach despite the reluctance of the Spanish club to sell the French international forward.
It remains to be seen if Wenger will make another move for a forward if his top targets are unavailable this summer. The report claims that the manager is not interested in the likes of Edinson Cavani and Gonzalo Higuain as he believes that they are not in the same level as the above mentioned trio.