This continues the Rangers' streak of going and making moves after I have said that they probably won't happen.
The acquisition of Dempster brings the Canadian pitcher back to the team that originally drafted him. Dempster was a 3rd round draft choice of the Rangers in the 1995 draft, and was dealt to the Marlins in August, 1996, along with Rick Helling in exchange for John Burkett.
Dempster, 35, has been having a career season, with a 2.25 ERA in 104 innings and a 177 ERA+. The Cubs had previously made an agreement with the Atlanta Braves to trade Dempster to Atlanta for pitching prospect Randall Delgado, but that trade was nixed with Dempster exercised his 10-5 rights and vetoed the trade.
Dempster is a free agent after this season, and as a player traded less than a year before he's eligible for free agency, he is not eligible to generate draft pick compensation.
Ken Rosenthal has tweeted that the Cubs will receive two prospects in A ball -- one a pitcher, one a position player.