Via tweet from cubs.com’s Carrie Muskat:

#Cubs Derrek Lee invokes 10-and-5 rights to block proposed deal to #Angels.

No word on who the Cubs would have received in this deal. Many people forget that players with 10 major league seasons, the last five with the same team (under which Lee qualifies) have the right to veto any trade, no conditions need to be given.

So, Lee will remain a Cub the rest of the season, and then likely will leave the team as a free agent. He’s been productive and popular as a Cub, but will be 35 in September and has had a down season.