KFAN and the Strib are both reporting that the Twins have acquired pitcher Carl Pavano from Cleveland for a player to be named later. R.A. Dickey has been optioned to Rochester. One assumes that Francisco Liriano has been optioned to the bullpen. Discuss in the comments, will update as the situation warrants.
Pavano's 2009 numbers:
UPDATE: I believe Pavano is the first Twin who has been romantically linked to Alyssa Milano. So, we've got that going for us, which is nice.