UPDATE 12:00 PM ET: Edwin Jackson and Mark Teahen have been traded from the Chicago White Sox to the Toronto Blue Jays for Jason Frasor and 24-year old pitching prospect Zach Stewart.
Stewart has never been ranked in Baseball America's top 100 and will most likely become a good reliever, says Kevin Goldstein.
According to Kenny Williams - the White Sox GM, this move will save the Sox $9.5 million through 2011.
UPDATE 11:45 ET: Ken Rosenthal states a three-way trade is likely, but awaiting approval:
Money appears only holdup in 3-team deal that would send EJax to Cardinals, Rasmus to BlueJays. 3-team deal includes cash exchange of more than $1 million, requiring approval of commissioner's office
UPDATE 11:37 ET: An Edwin Jackson trade is official, according to Bob Nightengale:
White Sox waiting for Jacksons arrival. He is now being told deal is official
UPDATE 11:28 ET: Jon Heyman is saying this deal may be a precursor to a Colby Rasmus deal:
Cardinals targeting Edwin Jackson (plus others) for Rasmus. So they want him. Deal could happen today. Big powwows now.