Former Bairns defender Twaddle has been impressive form for The Jags and Eddie May was keen to snap him up and add him to his squad for the start of the new season.
However, the two clubs couldn't setle on a price and as a result May will wait until the January transfer window when Twaddle will be available as a free agent.
One player who will be returning to Falkirk is Liverpool star Ryan Flynn. The talented winger left The Bairns in 2005 to head to Anfield and has become a hit for the reserves.
Flynn was also wanted byWelsh outfit Wrexham where he spent a time on loan but insead decided to return north of the border.
Meanwhile Lee Bullen has been appointed as reserve team coach. May admitted he wouldn't be keeping Bullen on as a first team player but believed he had the qualities to be a successful coach.