Celtic are close to completing a deal to sign Leigh Griffiths - but Joe Ledley could be on his way to Crystal Palace.
Wolves striker Griffiths has agreed a three-and-a-half-year contract with the Scottish champions and is expected to be paraded before the transfer deadline.
Manager Neil Lennon this week insisted 23-year-old Scotland international Griffiths would improve his squad.
Lennon said: "He is here and the deal has been agreed so subject to a medical he will be a Celtic player hopefully before 11 o'clock tonight which I am very pleased about."
On Ledley, Lennon said: "A bid has come in from Palace and has been accepted. It is now down to the player and his representatives."
Across the city, Rangers boss Ally McCoist hopes to see out Friday without any departures. The Ibrox club - whose players rejected a 15 per cent pay cut this month - have rejected two offers from Nottingham Forest for Scotland left-back Lee Wallace.
"We will have to wait and see what happens but I'm not expecting to be busy," McCoist said.
"The club did receive a couple of offers for Lee Wallace earlier this week but they did not meet the club's valuation for the player and were rejected.
"I did notice that Forest took Danny Fox on loan until the end of the season but you would have to ask wee Billy Davies if that was the end of their interest in Lee.
"He has been one of our key players for the last couple of years, so we are very keen to keep players of his calibre.