UPDATE: The deal is official and there are more players involved.
#Phillies have traded RHP Ken Giles and infielder Jonathan Arauz to the Houston Astros for five players.
— Phillies (@Phillies) December 12, 2015
#Phillies have acquired RHPs Vincent Velasquez, Mark Appel, Thomas Eshelman and Harold Arauz, as well as LHP Brett Oberholtzer.
— Phillies (@Phillies) December 12, 2015
-----
UPDATE: The trade is reportedly done.
Told #Astros getting closer Ken Giles from Phillies for pitchers: Vince Velasquez, Bret Oberholtzer &OF Derek Fisher, pending physicals
— Mark Berman (@MarkBermanFox26) December 10, 2015
A fourth player is headed to Phillies in Giles deal.
— Todd Zolecki (@ToddZolecki) December 10, 2015
-----
UPDATE: A deal is close.
Source on Giles to Houston trade: "It's close but not done."
— Jim Salisbury (@JSalisburyCSN) December 10, 2015
Ken Giles trade to #Astros is "close," source confirms @JSalisburyCSN report.
— Jon Morosi (@jonmorosi) December 10, 2015
Source: #Astros closing in on #Phillies' Giles. As reported, return expected to be three pitchers, highlighted by Velasquez.
— Ken Rosenthal (@Ken_Rosenthal) December 10, 2015
-----
UPDATE: There seems to be a package the two sides are discussing.
Asked one team that's been in on Ken Giles what the Phillies want back. He said: "Pitching. And more pitching."
— Jayson Stark (@jaysonst) December 9, 2015
Source says Astros & Phillies have talked about a package for Ken Giles that would center around Vincent Velazquez, plus 2 more prospects
— Jayson Stark (@jaysonst) December 9, 2015
Sources: #Astros continue to work on deal for #Phillies' Giles and much more. Looking at SPs, RPs, hitters - the full gamut.
— Ken Rosenthal (@Ken_Rosenthal) December 9, 2015
-----
The Houston Astros have been linked to a number of relievers in trade rumors this offseason, but this is perhaps the closest they are to acquiring one. Ken Giles of the Philadelphia Phillies appears to be their main target.
Earlier today Jon Heyman of CBS Sports reported the Astros were "still trying to pry" Giles from Philadelphia and if a deal were to happen it would "involve some better prospects" on Houston's end.
Jim Salisbury of CSN Philly followed that up a little while ago and said the talks between the two MLB clubs are "heating up." Earlier in the day Salisbury pondered if the Phillies were prepping for a Giles trade after picking up a number of relievers this offseason.
"[General manager Matt Klentak] has loaded up on relievers, signing Hernandez and claiming Otero, A.J. Achter and Michael Mariot on waivers. Gas-throwing righty Jimmy Cordero and Edubray Ramos, also relievers, were added to the 40-man roster from the minor-league system, and veteran James Russell, yet another reliever looking to bounce back after a down year, was signed to a minor-league contract."
"The stockpiling of bullpen arms is a clear indication that the Phillies are prepared to move Giles - if the right opportunity presents itself. The Houston Astros have long had interest in Giles."
Previous rumors suggested the Astros and Phillies have discussed a trade for Giles and Philadelphia "brought up" starters Lance McCullers and Vincent Velasquez, according to ESPN's Jerry Crasnick. However, ESPN's Jayson Stark just tweeted that McCullers won't be included in any deal for Giles.
Salisbury also just noted the Phillies have pushed back their media session for the day and speculates it could be because of the progressing talks surrounding Giles.
The right-hander just turned 25 in September and owns a 1.56 ERA and 1.04 WHIP with 151 strikeouts in 113 career MLB games over the past two seasons. He's under club control through the 2020, so his value is expected to be high.
If the Astros are in the process of making a deal, this would likely take them out of the running for Yankees closer Andrew Miller.
Come back for updates as a deal could be imminent.