The League Two side, keen to replace the now departed Paul Gascoigne, have confirmed that they had approached Blues about the possibility of taking the former England international to York Street in a player/coaching role.
However, their bid has been firmly rejected.
Anderton has played only one senior game since his Bosman free move to St Andrew's in August when he was arguably Blues' man-of-the-match in the Carling Cup 2nd round victory over Lincoln City last month.
The former Spurs and Portsmouth midfielder is on a year long contract with Blues on a pay-as-you-play basis.
However, their bid has been firmly rejected.
Anderton has played only one senior game since his Bosman free move to St Andrew's in August when he was arguably Blues' man-of-the-match in the Carling Cup 2nd round victory over Lincoln City last month.
The former Spurs and Portsmouth midfielder is on a year long contract with Blues on a pay-as-you-play basis.