Celtic have had a bid for Mathias Kvistgaarden rejected, according to a report.
Danish media outlet BT claims Brondby has knocked back £4m from the Scottish champions for the talented youngster.
The report states that MLS side Houston Dynamo had also submitted a rival bid, but this too has been rejected.
BT states: "Last week, Celtic offered DKK 35 million for Mathias Kvistgaarden, but Brøndby promptly rejected it.
"The Scottish champions even wanted to pay even more, but got the cold shoulder.
"The Houston Dynamo have also bid and been turned down."
It has been previously claimed that the Danish side will hold out for closer to £6m.
With just three days remaining of the transfer window, it remains to be seen if Celtic will come back with another offer.
A deal for Luis Palma is on the verge of competition. The Honduran international will join the Hoops on a long-term contract from Aris for a fee of £3.5m.
Brendan Rodgers also wants to add another striker, a left back and a centre back.
The Scottish champions are experiencing somewhat of a defensive injury crisis at the moment with Maik Nawrocki, Cameron Carter-Vickers and Stephen Welsh all out injured.
Meanwhile, Don Robertson has been confirmed as the referee to take charge of this weekend's derby fixture between Rangers and Celtic.
The whistler will take charge of the fixture for just a second time after being drafted in during last season's Scottish Cup semi-final at Hampden.
Robertson will be assisted by Frank Connor and David Roome, and Steven McLean has been named as the fourth official for the contest.
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