The 23-year old was all set to join the Toffees for a fee of around £8million on Monday but the Twente chairman has revealed that the clubs have been unable to come to an agreement regarding add-ons and bonuses.
"Today they started up the negotiations once again. During the day they came with all sort of additional conditions about the payment terms and also the transfer fee.
"We won't deal with that. Then there won't be a transfer."