Crystal Palace co-owner John Textor said he tried "everything possible" to buy the remaining shares in the club, but that his bid did not receive a response.
The American businessman said he will turn his efforts to selling his 45% stake in Crystal Palace "so that we can pursue a relationship with the Everton club and community".
He said there were a "significant number of parties" interested in buying his shares.
Earlier this month, Everton owner Farhad Moshiri granted a period of exclusivity to Textor.
"It is true that we made an offer to buy the remaining shares of Crystal Palace, at a valuation that far exceeds levels of prior investment," Textor wrote on his website.