Two sources told ESPN The Magazine's Tim Kurkjian that the San Francisco Giants and New York Mets are closing in on a deal for the outfielder.
The Rangers had an interest, but the Giants were willing to include a top pitching prospect in Zack Wheeler, according to Buster Olney. The Rangers aren't interested in shipping off Martin Perez and will focus their energies on relief pitching, though they'll still poke around on anything else that might improve the club (they always do).
You can read the full report about Beltran here. It's not done yet, but appears close.