Arsenal reportedly snubbed a swap deal with Paris Saint-Germain that would have seen Pierre-Emerick Aubameyang and Mauro Icardi trade places in the January transfer window.
The Gunners were expected to bolster their forward line last month, given the uncertainty surrounding a number of their striking options.
Mikel Arteta was desperate to offload Aubameyang following a well-documented fallout while Alexandre Lacazette and Eddie Nketiah are both set to become free agents when their contacts expire in the summer.