Rangers Acquire Matt Garza
4:25pm: Passan tweets that the third player is Justin Grimm, making the final package Garza for Olt, Edwards, Grimm and a player to be named later.
4:12pm: Passan tweets that the Rangers will send Olt, Edwards, a third player and a player to be named later to facilitate the deal.
4:08pm: The Cubs will receive Olt, right-hander C.J. Edwards and one other player, tweets Ken Rosenthal of FOX Sports.
4:04pm: The Rangers have acquired Matt Garza from the Cubs, according to Jeff Passan of Yahoo Sports (on Twitter). In a second tweet, Passan adds that Mike Olt is in the package.
Garza, 29, has been tremendous for the Cubs this season. Though he began the season on the disabled list, he's shown little signs of rust since being activated on May 21. In 71 innings this season, Garza has pitched to a 3.17 ERA with 7.9 K/9 and 2.5 BB/9. He is a free agent at season's end and therefore cannot be tied to draft pick compensation.
Source: MLB Trade Rumors