Multiple reports had the Angels set to acquire Kazmir in a move aimed to bolster their beleaguered starting rotation.
The Rays were to get pitcher Alexander Torres and third baseman Matthew Sweeney in return.
Kazmir is 8-7 this season with a 5.92 ERA in 20 starts for the Rays.
Before the Angels' game against the Athletics on Friday night, manager Mike Scioscia said: "There's a lot of speculation out there but there's nothing really to talk about. We don't talk about specific players. There's nothing imminent."