Liverpool chief executive Rick Parry says the club will not be bullied into accepting a takeover offer.
Dubai International Capital pulled out of a deal to purchase Liverpool after the Reds board failed to accept their bid following a meeting on Tuesday.
Instead, Owner and chairman David Moores and board members decided to take more time to consider an improved offer from American George Gillett.
Parry has now suggested that DIC tried to 'bully' Liverpool into accepting their offer by giving them an ultimatum.
"We have a duty as directors to consider a very interesting bid from George Gillett," he told the Liverpool Echo.
"The DIC response to this was to give the club 12 hours to make a decision but the chairman was not prepared to have Liverpool Football Club bullied like that."
Parry insists the decision to take a closer look at Gillett's offer was not down to money, with the Montreal Canadiens owner believed to have offered shareholders more for their holding in the club.
"The price is not a factor in David Moores' mind. He is not after cash for himself, absolutely not, but he felt compelled to consider the rival bid," Parry said.
"We would also stress this is not a question of going for the second choice. David has always given George Gillett serious consideration while at the same time we didn't want to rush into any decision, and we were aware DIC might walk away.
"Be assured the only thing David Moores is concerned about is the club being in the right hands for the future.
"You can be certain he has done his homework carefully and will make a decision in the best interests of the club."
Meanwhile, Parry has confirmed Gillett's outlined plans do not involve a ground share with Merseyside rivals Everton.
He added: "George Gillett has made it absolutely clear to us he will not be in favour of a ground share.
"There will be funding for the new stadium and a proper commitment to investment in the team."