Finally, some action after a lot of summer conversation at Emirates.

Arsenal, looking to upgrade in central defense, learned their £10 million bid for Everton defender Phil Jagielka was rejected. 

For several weeks, rumours had floated that Arsenal was interested in Jagielka, as well as other central defenders: Gary Cahill, Christopher Samba, and Scott Dann. Now, it has basically been confirmed that Jagielka was the main target. Though there probably remains interest in the other candidates, Jagielka was the only defender that received a real offer.

What's interesting is Everton has not reportedly received any other offers for Jagielka. Everton reportedly believe Jagielka is worth closer to £20 million. It will be interesting to see if Arsenal are willing to up their offer when no other club is bidding.

According to ESPN: Jagielka signed a new four-year contract at Goodison Park in March this year, and it is expected that boss David Moyes will fight to hold onto his services, despite the Toffees struggling for transfer funds.

Meanwhile, there has been other concrete news from the Gunners.

Arsenal confirmed that out-of-favour midfielder Denilson has returned to his former club Sao Paulo on loan for the 2011-2012 season. The 23-year-old midfielder failed to see much action last season.

I will be playing in Brazil next season as I felt that this is a good opportunity for me to play regular first-team football, Denilson said. I move away with sadness because I have so many friends at Arsenal ... I'm now focused on doing well in Brazil next season, but will always be looking out for the Arsenal results. 

According to Daily Mirror, Valencia announced that winger Juan Mata is up for sale, and the 23-year-old has been an Arsene Wenger's target for several weeks. Arsenal reportedly offered £18 million for Mata back in late June, according to Daily Mail.

There haven't been any recent developments with the pursuit of Jose Enrique. Arsenal are joined by Liverpool and Barcelona for the services of the left back, who Newcastle have hinted is for sale. Arsenal are somewhat thin at left back with the departure of Gael Clichy.

Another recent development, also courtesy of Daily Mirror, is Southampton putting a £12 million, or more, price tag on promising striker Alex Oxlade-Chamberlain.

In a summer that was expected to be busy with retooling, only forward Gervinho and young defender Carl Jenkinson have been added to the squad.