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Liverpool failed to land Ukraine winger Yevhen Konoplyanka and Arsenal signed Kim Kallstrom on transfer deadline day.
Konoplyanka was widely reported to be undergoing a medical with the club before his projected £15m switch from Dnipro Dnipropetrovsk hit complications.
The apparent breakdown of the deal left Reds boss Brendan Rodgers empty-handed on a day when Chelsea looked to the future.
Jose Mourinho moved to land 19-year-old St Etienne defender Kurt Zouma on a five-and-a-half year deal - but the player will remain at his current club until at least the end of the season.
Wenger's move came shortly after the Gunners dropped their interest in German attacking midfielder Julian Draxler, while Arsenal also had an approach for Salomon Kalou rejected by Lille.
Leaving the Gunners is midfielder Emmanuel Frimpong, who has joined Championship side Barnsley in a permanent deal.
Dimitar Berbatov left Fulham to join Ligue 1 title challengers Monaco on a permanent deal.
The 33-year-old told Monaco's official website: "I'm happy, excited and a little bit nervous to be honest."
Fulham boss Rene Meulensteen responded by signing Lewis Holtby and John Heitingaon loan from Tottenham and Everton respectively, and Greek striker Kostas Mitrogloufrom Olympiacos for an undisclosed fee.
Crystal Palace snapped up Celtic midfielder Joe Ledley and Blackburn defender Scott Dann on permanent deals, and signed highly-rated Blackpool winger Tom Ince on loan until the end of the season.
In addition Eagles boss Tony Pulis has brought in Wolves goalkeeper Wayne Hennessey and turned Jason Puncheon's loan move from Southampton into a permanent deal.
Dani Osvaldo's ill-fated five-month stay at Southampton is over, with the Saints' club-record signing joining Juventus on loan with a view to a permanent move.
There were no moves for Joleon Lescott - who took to Twitter to deny rumours of an impending departure from Manchester City - or Sunderland midfielder Lee Cattermole, whose move to Stoke fell through despite reports of a fee having been agreed.
Black Cats boss Gus Poyet has strengthened his squad by signing Scotland midfielderLiam Bridcutt from Brighton on a three-and-a-half-year deal for an undisclosed fee.
Meanwhile, the long-anticipated loan deal for Manchester United winger Wilfried Zaha to Cardiff has finally gone through.
West Brom have signed striker Thievy Bifouma on loan until the end of the season, with the France Under-21 international becoming manager Pepe Mel's first signing since arriving at the club.
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