Per Lance's blog ...
The Cincinnati Reds today acquired RHP Bronson Arroyo and cash from the Boston Red Sox in exchange for OF Wily Mo Pena.
Arroyo, 29, went 14-10 with a 4.51 ERA in 35 games (32 starts) for the Red Sox last season. He established career highs in wins (14), starts (32) and innings pitched (205.1) while producing a team-high 20 quality starts.
Arroyo has appeared in the postseason in each of the last three seasons, including as a member of the 2004 World Champion Boston Red Sox.
Originally selected by the Pirates in the third round of the June 1995 draft, Arroyo owns a career record of 33-33 with a 4.59 ERA in 126 games (90 starts) with Pittsburgh (2000-02) and Boston (2003-05). http://sports.espn.go.com/mlb/player...?playerId=4416
Pena, 24, batted .248 with 51 HR and 134 RBI in 302 games with the Reds from 2002-05.