According to the official twitter feed, the Reds have signed Nick Masset to a two-year extension ($5.5M total guaranteed) and have acquired Wilson Valdez from the Phillies for Jeremy Horst. A little more on the Valdez trade here. That fills up the 40-man roster, so someone will have to depart the roster before the Ludwick signing is official. UPDATE: Capping a busy day, the Reds also signed Jeff Francis to a minor league deal.