Cole's future at Upton Park has been subject to conjecture since Roy Hodgson took over at Liverpool, with the former Fulham boss a reported admirer of the powerful front man.
Reports had circulated that the Reds were lining up a £9million move for the 26-year-old before the transfer window slammed shut, although no switch materialised.
The Hammers squad remains much the same following the close of business at 6pm on Tuesday, despite plenty of speculation surrounding potential additions and outgoings.
And Cole nearly became a last-gasp departure from the London club as Liverpool made overtures, using Ryan Babel as bait in return for their striker.
Grant told Sky Sports News: "I think Liverpool were interested (in Cole) at the last moment, they tried to do something.
"I don't think it was an offer. (Babel) was one of the suggestions to do or not to do."
Midfielder and vice-captain Scott Parker had also been linked with a move away from the club during the summer trading period, although Grant had made clear his desire to keep hold of the 29-year-old.
And the Israeli's message seemingly put off Tottenham from trying to lure the player to White Hart Lane after an initial offer was rebuffed, with the manager revealing no further move had been made.
The 55-year-old also admitted he is an admirer of Spurs striker Robbie Keane - but did not reveal whether he had tried to recruit the Irishman.
Grant added: "Parker? Nothing as far as I know. They know we want Scott Parker. He's very important for us.
"This season is difficult but we have a project for the next seasons and Scott is very important.
"Robbie Keane is a good striker. Any time he wants to come he is welcome."
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