The Yankees have acquired right-handed starter Lance Lynn from the Twins in exchange for first baseman/outfielder Tyler Austin, minor-league right-hander Luis Rijo, and cash. 

Lynn, 31, has pitched to a 5.10 ERA and a 1.61 K/BB ratio in 20 starts this season. Those are poor numbers, but Lynn's been generally much better since a disastrous April. As well, he has long history of plus run-prevention (career ERA+ of 114 entering 2018). Lynn is in his walk year and is owed the balance of a $12 million salary for this season. Some details on the money side: 

As Sherman notes, the Yankees were able to offset almost all of this salary intake by trading Adam Warren to the Mariners earlier on Monday. That's important since the Yankees badly want to reset their luxury-tax status this year and are right up against the line. 

The Yankees are barreling their way toward a 100-win season, but in part because they trail the Red Sox in the AL East standings (and are thus in line to play in the wild-card "knockout" round), Brian Cashman has been busy reinforcing the pitching staff. In addition to Lynn, the Yankees in recent days have swung trades for starter J.A. Happ and lefty reliever Zach Britton. 

As for Lynn's role, Jon Heyman reports it could be as a swingman in the Bronx: 

On the Minnesota side of things, the 26-year-old Austin gives them some pop (.459 SLG, 15 home runs in 85 big-league games) and the ability to man first and the outfield corners. Rijo, 19, was signed by the Yankees out of Venezuela as an undrafted free agent in 2015. Across parts of three minor-league seasons, he's pitched to a 2.80 ERA with 117 strikeouts in 125 1/3 innings while working primarily as a starter. This season, Rijo has risen to the Single-A level.