Both the Rams and Owls were linked with a summer move for Simon Terodde.
The Austrian international is battling from relegation in the German second tier.
The 25-year-old's contract with the German side expires at the end of the season.
The Algerian international is wanted in Germany despite a promising 2014-15.
Ben Sahar was tipped for greatness at Chelsea - but now he is fighting to keep Arminia Bielefeld in the second tier of German football.