Rockies close to signing Ramon Hernandez, trade Chris Iannetta to the Angels for Tyler Chatwood

Ken Rosenthal on Twitter first reported this:

Source: #Rockies close to signing R. Hernandez to two-year deal, sending Iannetta to the Angels. Teams checking medicals. #MLB

and we have further confirmation from Troy Renck:

Confirmation that Hernandez coming to Rockies... Chatwood should be coming back from Angels.

Apparently we're just awaiting the fine print and last okay.

UPDATE:

Ken Rosenthal is reporting that the Hernandez deal is for 2 years, $6.5 million (see below.) Iannetta would have cost a bit more if the Rockies were to keep him for two seasons. They get a similar catcher plus a rotation arm for about the same cost in salary.

UPDATE 2:

The Rockies official Twitter confirms that the Iannetta for Chatwood trade is complete.

UPDATE 3:

The Rockies have agreed to a $6,250,000 two year deal with Ramon Hernandez pending a physical according Rafael Rojas