Report: Yankees acquire pitcher Derek Lowe

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The Yankees have acquired pitcher Derek Lowe, who reportedly has agreed to pitch out of the bullpen. (Ed Zurga/Getty Images)

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With ace CC Sabathia going on the 15-day disabled list on Saturday with elbow soreness, the New York Yankees wanted to pick up an extra arm for the stretch run.

The team acquired right hander Derek Lowe, who was given his release earlier this week from the Cleveland Indians, reports CBSSports.com. Lowe has reportedly agreed to pitch out of the bullpen.