According to Darren Dreger of TSN:
Although it’s not completed, sources say the Toronto Maple Leafs and Boston Bruins are putting the finishing touches on a trade that will deliver Phil Kessel to the Leafs.
Toronto is awaiting the final call to confirm the deal while the Bruins are believed to be wrapping up all internal discussions before signing off.
More details to come once anything else in heard.
UPDATE: According to Jeff Marek of CBC Sports in Canada, Phil Kessel to Toronto for 2 firsts and a second.
UPDATE II: Marek also reports a player is involved. Deger follows up with a Tweet saying deal is conditional on Kessel signing with the Leafs.
UPDATE III: According to Damien Cox of the Toronto Star, the deal is Phil Kessel to Toronto for two firsts and a second. Kessel signs a 5 year $27 million contract.