Ahead of Sunday's clash at Stamford Bridge, Moyes said: (We were) close, close.
You can probably imagine the other part of it, where there was a possibility of somebody leaving here which might have made that work.
I was in regular contact with his agent and we were well on the road with it but it just changed at the end and we couldn't do it.
I watched him playing for England U21s regularly and I thought he was their standout player," Moyes added. I was always keen to bring in British players.
The bigger problem was that he played in the same position as Jarrod Bowen but I had the thought about Jarrod becoming a centre-forward.
Lee Carsley, who was one of my ex-players (at Everton) as well and the England U21 manager, was always giving me advice on their players and Cole especially.
He spoke so highly about him and what he was like. We knew he could play several positions and let's be fair, he's been a revelation this year for Chelsea."