Ok, I am going to add to this mess. I called my friend who is usually up on this type of thing. He claims to have a "source" which we all know is probably BS, but he is usually more right then wrong.
He had no mention of the Reds involvement. He told me the 3 teams were D-Rays, Cubs and Rockies. Once again the names are not for sure. But the basics were Baez, Huff to the Cubs, Patterson and possibly Dempster to the Rockies, and Preston Wilson and Hairston to the D-Rays. Minor leaguers were involved, but nobody I recognized. I guess the D-Rays also have interest in Dempster so they are puting together several names, some which included Chacon moving too.
Pure specualtion, but nobody seems real sure of anything so I figured I would add what I heard.