UPDATE (6:55 p.m. ET): Visit Eye on Baseball for full details of the developing trade between the Blue Jays and Marlins.

UPDATE (6:40 p.m. ET): CBSSports.com's Jon Heyman has confirmed that the Blue Jays and Marlins are close to a deal that would send Josh Johnson, Mark Buehrle and Jose Reyes to Toronto for young talent.

UPDATE (6:39 p.m. ET): ESPN's Buster Olney reports that right-handed outfielder prospect Jake Marisnick will be dealt to Miami in the deal.

UPDATE (6:37 p.m. ET):  Olney reports that a deal is done, with Johnson, Buehrle, Reyes, Buck and Bonifacio being traded to the Blue Jays.

UPDATE (6:35 p.m. ET): FoxSports.com's Jon Paul Morosi also reports that the trade could include catcher John Buck and outfielder/infielder Emilio Bonifacio, though their inclusion had not been confirmed.

The Toronto Blue Jays and Miami Marlins are discussing a megatrade that would involve pitchers Josh Johnson and Mark Buehrle heading to Toronto and shortstops Yunel Escobar and Adeiny Hechavarria, according to reports from FoxSports.com's Jon Paul Morosi and Ken Rosenthal.

Morosi also reports that left-handed pitching prospect Justin Nicolino would be sent to the Marlins in the deal.

Rosenthal also added that shortstop Jose Reyes would be sent to the Blue Jays, with right-handed pitcher Henderson Alvarez going to the Marlins.

For more up-to-the-minute news and analysis on the latest rumors from bloggers Chris Cwik, Jack Moore and R.J. White, follow @MLBRumorsCBS.