With one day remaining in the transfer window Moyes does not think he will have time to find a replacement at this stage.
"He is not our player but it is right we look after the boy and it didn't work for the reasons it didn't work," he said of the failed Fer deal.
"The boy is a very good player and we wish him well but on this occasion we just couldn't quite conclude the deal.
"There are lots of things connected to signing a player: it could be a contract, it could be the agent, it could be the clubs and medicals as well.
"On this occasion some of them didn't come together.
"It is very late now so I don't know if we will be doing anything."