The Rangers have signed Joe Nathan, according to T.R. Sullivan of MLB.com. It's a two-year deal with an option for 2014, according to Evan Grant of the Dallas Morning News (Twitter links). The move means Neftali Feliz is headed to Texas' rotation.
Nathan, an unranked free agent, won't cost the Rangers a draft pick and his former team, the Twins, won't obtain a compensatory pick. MLBTR's Tim Dierkes ranked Nathan 48th on his list of top 50 free agents.
The Twins declined a $12.5MM option for Nathan after the regular season, but maintained interest in their longtime closer. The Blue Jays also appeared to have some interest in Nathan.