Cubs acquire INF Mike Olt, RHP Justin Grimm, RHP C.J. Edwards and two players to be named from Texas for RHP Matt Garza

PHOENIX - The Chicago Cubs today acquired infielder Mike Olt, right-handed pitcher Justin Grimm, right-handed pitcher C.J. Edwards and two players to be named from the Texas Rangers for right-handed pitcher Matt Garza.

Olt, 24, was the 2012 Texas Rangers Minor League Player of the Year after hitting .288 (102-for-354) with 17 doubles, one triple, 28 home runs and 82 RBI in 95 games for Double-A Frisco prior to his major league debut with Texas last August. Olt was named a Texas League mid-season and post-season All-Star, and led the league in home runs and OPS (.977) despite missing the final month of the season due to promotion.

A right-handed hitter and fielder, Olt owns a .269 batting average (299-for-1,113) with 65 doubles, two triples, 64 home runs, 205 RBI and a .375 on-base percentage in 305 minor league contests since he was selected by Texas in the supplemental first round (49th overall) of the 2010 draft out of the University of Connecticut. He played on the United States squad at the 2012 MLB Futures Game in Kansas City, and entered this season tabbed as the Rangers second-best prospect by Baseball America.

Olt made his major league debut with Texas last season, hitting .152 (5-for-33) with a double and five RBI in 16 games following his promotion, August 2. This year, he is hitting .219 (53-for-242) with 17 doubles, 12 home runs and 34 RBI in 68 games between Double-A Frisco (three games) and Triple-A Round Rock (65 games), including a .247 mark (39-for-158) with 10 home runs since June 3 at Triple-A.

Grimm, 24, was originally selected by the Rangers in the fifth round of the 2010 draft out of the University of Georgia. He has spent nearly the entire 2013 season at the major league level, going 7-7 with a 6.37 ERA (63 ER/89.0 IP) in 17 starts with Texas. He was named the American League Rookie of the Month for April this season after going 2-0 with a 1.59 ERA (3 ER/17.0 IP) in three starts, fanning 15 and walking only four.

Among major league rookies, Grimm trails only St. Louis' Shelby Miller in wins while tying for second among American League rookies with six quality starts. He leads A.L. rookies with 89.0 innings and ranks third with 68 strikeouts.

The righthander made his big league debut last season after posting an 11-6 record with a 2.81 ERA (42 ER/134.2 IP) in 25 appearances (22 starts) between Double-A Frisco and Triple-A Round Rock. He earned Texas League mid-season All-Star honors last year. 

Grimm is 8-8 with a 6.73 ERA (77 ER/103.0 IP) in 22 big league appearances, 19 as a starter, covering the last two seasons. Overall in his minor league career, Grimm is 19-9 with a 3.07 ERA (96 ER/281.0 IP) in 51 appearances (48 starts).

Edwards, 21, has gone 8-2 with a complete game and a 1.83 ERA (19 ER/93.1 IP) in 18 starts for Single-A Hickory this season. He has struck out 122 batters in 93.1 innings pitched, good for an average of 11.8 strikeouts per 9.0 innings, while walking just 34. A South Atlantic League mid-season All-Star, Edwards has held opponents to a .186 batting average (62-for-334) and has not surrendered a home run.

A native of Newberry, S.C., Edwards is 13-5 with a 1.68 ERA (30 ER/160.1 IP) in 32 games (31 starts) since he was selected by Texas in the 48th round of the 2011 draft. He has not surrendered a home run in his professional career while averaging 11.6 strikeouts per 9.0 innings. All told, he has struck out 207 batters compared to 59 walks in 160.1 innings pitched.

Garza, 29, went 21-18 with a 3.45 ERA (143 ER/372.2 IP) in 60 starts for the Cubs after he was acquired by the club in an eight-player deal with Tampa Bay, January 8, 2011. He owns a 63-62 major league record with eight complete games, three shutouts, one save and a 3.80 ERA (463 ER/1,098.0 IP) in 181 career games (178 starts) with the Twins (2006-07), Rays (2008-10) and Cubs (2011-13).