Via Ken Rosenthal at FOX Sports, Mark Teixeira to the Braves is all but done, with a medical review the only thing holding up the agreement. Texas would get Jarrod Saltalamacchia, Class A shortstop Elvis Andrus and two pitching prospects. A nice haul for the Rangers, depending on the prospects, and a big short-term windfall for the Braves, who have struggled to get production at first this season.
Things in the NL East just got a whole lot more interesting, folks. Stay tuned.
UPDATE [11:35pm]: Pitching prospects rumored to be in the deal, coming from the Braves, include Matt Harrison and Jo-Jo Reyes. The Braves are also said to be getting reliever Ron Mahay from the Rangers in addition to Teixeira. Mahay has a 2.78 ERA despite mediocre peripherals.
Tex is hitting .297/.397/.524, is a switch-hitter and a very good gloveman at first.
UPDATE [12:03pm]: Looks like Harrison is included. It's a good deal for both teams, short-term for the Braves and long-term for the Rangers. Braves' GM John Schuerholz likes to lock up impending free agents long-term (a la Tim Hudson), but look for the Scott Boras-represented Teixeira to hit the free agent market following 2008, his final year of arbitration eligbility. Carlos Delgado is also set to hit the market following next season, so connect your own dots there.
UPDATE [12:06pm]: ESPN.com is reporting it now, too.