According to Buster Olney in his blog today:
The Twins tried to re-engage the Yankees Monday night, calling and asking, again, for Hughes to be in a package. The Yankees said no, and the Twins then asked, instead, for Chien-Ming Wang and Ian Kennedy, and the Yankees said no.
This differs from Bob Klapisch’s take yesterday. Klapisch said the Twins’ last-ditch proposal to the Yankees was for Ian Kennedy, Melky Cabrera, and a top prospect. Regardless, the Yankees preferred to enter the ’08 season with Wang, Andy Pettitte, Phil Hughes, and Joba Chamberlain in the rotation. Kennedy and Mike Mussina will compete for the fifth spot.