Crystal Palace co-owner John Textor said he tried "everything possible" to buy the remaining shares in the club, but 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
"It is also true that our offer did not induce a response, and we believe that our Palace partners have the same desire to remain in ownership as we once did."
Textor first announced his plans to sell his stake in Crystal Palace and an interest in buying Everton in May.
The 58-year-old digital entrepreneur made his name in virtual reality studios and the streaming platform FuboTV.
"Before we decided to leave one family to join another, we did try to do everything possible to stay connected with the club and community of Crystal Palace," Textor said.
"If supporters don't switch allegiances easily, owners shouldn't either."
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