Sheffield Wednesday have rejected a bid from Charlton for Madjid Bougherra.
Charlton tabled a £1.3million offer for the Algerian international earlier this week as they look to shore up their leaky defence.
Bougherra has impressed at Hillsborough this season and his performances have attracted the interest of a host of clubs.
Charlton boss Alan Pardew is keen to reshape his squad and had made Bougherra one of his top targets.
However, Wednesday are keen to keep hold of the former Crewe man and Owls chief executive Kaven Walker confirmed Charlton's offer was rebuffed.
"We have rejected a £1.3million offer from Charlton Athletic for Madjid Bougherra," Walker told the club's official website.
"He is not for sale."