Ljajic was part of the £16.5million deal that saw Zoran Tosic join the Red Devils in January.
The 18-year-old was due to arrive at Man Utd nex month, but the club has now decided to pull out of a deal to sign the youngster.
A United spokesperson told the clubs’s official website: “We had an option to buy the player but, having closely monitored his development over the past 12 months, and taken into consideration the young players emerging through the ranks at the club, we have not chosen to pursue the transfer.”
