UPDATE: A’s also in the mix for Hisashi Iwakuma, Rangers may have bid too low

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2:04 PM: More intrigue from Rosenthal. He tells us that the Athletics also submitted a bid for Iwakuma and that the Rangers’ bid may have actually been too low. According to Rosenthal, the A’s would like to add Iwakuma in order to acquire a hitter from their surplus of starting pitching.

1:15 PM: According to Ken Rosenthal of FOXSports.com, the Rangers may have the highest bid for Japanese right-hander Hisashi Iwakuma. Last night, a Japanese media report suggested that the Mariners were the front-runners.

While we still have no official word about who has the highest bid, Rosenthal confirms that the Rangers did indeed make a bid and writes that it’s possible other AL West clubs are involved. Stay tuned.

10:21 AM: Still no confirmation that the Mariners actually have the highest bid for Iwakuma, but Larry Stone of the Seattle Times tells us that the Golden Eagles have until next Thursday to decide whether to accept the winning bid. If they do, the MLB team can begin negotiations with Iwakuma.

Friday, 11:00 PM: Patrick Newman of NPB Tracker tweets that the bidding for Japanese right-hander Hisashi Iwakuma has closed, with more than one team submitting a bid. According to MLB Trade Rumors, a report from Sports Hochi says that the Mariners are supposedly in the lead with a bid of $13 million.

Iwakuma’s team, the Tohoku Rakuten Golden Eagles, were hoping for a posting fee around $16-17 million and they reserve the right to reject the winning bid.

Many consider Ikakuma to be the second best pitcher in Japan behind Yu Darvish. The 29-year-old right-hander has a 2.82 ERA and 153/36 K/BB ratio over 201 innings this season. He earned the Pacific League MVP when he went 21-4 with a 1.87 ERA in 2008 and turned some heads stateside by posting a 1.35 ERA and 15/6 K/BB ratio over four games (three starts) in the World Baseball Classic last year.

Padres to place Franchy Cordero on DL, activate Hunter Renfroe

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Kevin Acee of the San Diego Union-Tribune reports that the Padres will place outfielder Franchy Cordero on the 10-day disabled list and activate outfielder Hunter Renfroe from the DL on Monday.

Cordero, 23, has been slumping, batting .140 with four extra-base hits in 47 plate appearances dating back to May 11. The Padres noticed that the forearm issue has been affecting his swing in recent games. Manager Andy Green said, “It was something where he could swing a certain way to manage it. But swinging that way was not him.”

Renfroe, 26, has been out since mid-April due to inflammation in his right elbow. He hit .200/.281/.440 in 57 PA prior to landing on the disabled list. Renfroe played in 10 rehab games with Triple-A El Paso.