31/01/2012 16:50 +0100 – Ibrox boss Ally McCoist made a move for the Canaries captain, with top goalscorer Nikica Jelavic set to complete his switch to Everton.
However, the Scottish champions have failed in their attempt to bring the 30-year-old to Ibrox.
Everton confirmed earlier today that they had agreed a fee with Rangers for Jelavic, who has netted 17 goals this season.
That means McCoist could be left facing a race against time to replace the Croatian before tonight's transfer deadline if he completes his move to Goodison Park.
Holt caught the eye of the Rangers boss with nine goals in 23 appearances for the Barclays Premier League club so far this season.
But it would appear McCoist must now look elsewhere after his attempts to recruit the player were rebuffed.