HITC Sport understands Rochdale reject bid for Bunney.
Bunney has really the caught the eye for Rochdale since being converted from a striker to a left-back last season.
The attacking full-back has made 25 appearances in all competitions so far this season, chipping in with one goal and five assists for Rochdale.
Bunney, who joined Rochdale from Northwich Victoria in March 2013, is out of contract at Spotland this summer and his contract situation has alerted his suitors.
Northampton have targeted a move for Bunney as Cobblers boss Jimmy Floyd Hasselbaink looks to continuing reshaping his squad at Sixfields.
Hasselbaink has been busy in this month's transfer window bringing in new signings and he sees Bunney as a key addition to his plans as he looks to steer Northampton to survival in League One.
Rochdale are reluctant to lose Bunney as they battle against relegation themselves, but they are bracing themselves for further interest in the defender from Northampton and other clubs before the close of the transfer window.