The 21-year-old midfielder passed a medical and trained with Everton last week before attending Saturday´s match against Blackburn as a guest but stunned Everton by agreeing a six-year contract at the Mestalla.
A statement on the club´s website, evertonfc.com, said: "On Saturday we were informed that another club had come in with a rival bid and despite sustained efforts over the remainder of the weekend the player joined Valencia. David Moyes and his coaching staff are continuing to seek the extra addition to our squad, which they feel they require for this season."
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