Terriers owner Ken Davy responded to the bid by offering a minority shareholding and the chairmanship of the club, but Pearson is only interested if he can become the majority shareholder.
He told the Huddersfield Daily Examiner: "Ken has made a definitive statement that selling a majority shareholding just isn't going to happen and if that's how he feels, that's the way it is.
"My offer will remain on the table but if Ken isn't interested he isn't interested - that's his prerogative."
Pearson has made no secret of his desire to take over a football club again after selling Hull City and leaving the board earlier this year, and has also been linked with Leeds United and Sheffield Wednesday.