According to Jon Morosi of Fox Sports, the Athletics have won the bidding for Japanese righty Hisashi Iwakuma. No word on what the winning bid was or if the Yankees were involved in the bidding at all.
The Yankees might have placed a low-ball offer, but obviously were not aggressive in the bidding. In recent years they have scouted both Iwakuma and Yu Darvish so obviously they are not going to shy away from Japanese pitchers forever, but they had had a bad experience both times they got involved with one in the past (Hideki Irubu and Kei Igawa). So at the very least they are going to be cautious going forward.