Commodities trader Glencore International (GLEN.L) has today ruled out acquiring Kazakh miner Eurasian Natural Resources (ENRC.L).

The Swiss-based commodities trader, which was admitted to the FTSE 100 earlier this month, will not be able to acquire the company for at least six months.

In a market statement, Glencore revealed it was bound by rule 2.8 of the City Code on Takeovers and Mergers in relation to Eurasian.

The rule prevents the company from making an offer for the company in the next six months, unless consent from the Takeover Panel is granted.

'Glencore however reserves its rights to make an offer in the future with the consent of the Takeover Panel, with the recommendation of the Board of ENRC, in the event of a third party offer for ENRC, or in the event of a material change in circumstances.' a market statement confirmed.

The commodities trader has been linked with a takeover of the miner after a week of boardroom changes at Eurasian Natural Resources and market rumour.

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