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Robin van Persie
Arsenal have dismissed Manchester United's bid for Robin van Persie.
Offers from both Manchester City and Juventus also fall short of the Gunners' valuation of the 28-year-old.
It is understood City, United and Juve tabled offers for the Netherlands striker, who has a year left on his contract, but Arsenal are keen to hold out for a fee of £25-30m.
Skipper Van Persie, who joined Arsenal from Feyenoord for £2.75m in 2004, says he will not sign a new deal.
The Dutchman scored 41 goals in 53 games for club and country last season and was named both the Professional Footballers' Association and Football Writers' player of the year last season.
However, he suffered a disappointing Euro 2012 campaign, scoring only once as the Netherlands were eliminated at the group stage.
After meeting with manager Arsene Wenger and chief executive Ivan Gazidis in mid-May, Van Persie revealed he had disagreed with both men on the way the Premier League club should move forward.
"I've thought long and hard about it, but I have decided not to extend my contract," he wrote on his website.
"This was a meeting about the club's future strategy and their policy. Financial terms or a contract have not been discussed, since that is not my priority at all.
"I personally have had a great season but my goal has been to win trophies with the team and to bring the club back to its glory days.
"Out of my huge respect for Mr Wenger, the players and the fans I don't want to go into any details, but unfortunately in this meeting it has again become clear to me that we in many aspects disagree on the way Arsenal FC should move forward."
Arsenal are scheduled to play matches in Malaysia, China and Hong Kong over the next two weeks.
They face a Malaysian XI on Tuesday in Kuala Lumpur, then head to Beijing to face Manchester City on 27 July. The Gunners finish their tour against Kitchee FC in Hong Kong on 29 July.
Van Persie will remain in England while his team-mates are away on tour, working on his fitness at Arsenal's London Colney training base.