Motherwell loan deal for Derby's Teale on verge of collapse
Teale has started the last four games for the Rams under new boss Nigel Clough.
"We had hoped we could bring him here," said McGhee, who has seen striker Chris Porter agree a switch to Derby.
"But he was man of the match against Coventry. There's still going to be discussions between him and Nigel.
"But it seems he is back in favour. It looks unlikely that he will come here."