The Angels are reportedly ready to shop Mark Trumbo in return for pitching. If the Yankees want Trumbo, they'll be getting a pure power hitter. Depending on what kind of pitching they're looking for, I think the Yankees should take a look.
As a right-handed hitter, he won't exactly be perfect for Yankee Stadium, but he won't be completely useless. In 2013 Angels Stadium had a park factor of 86 for right-handed home runs, while Yankee Stadium had a park factor of 122 for righties. Bringing him to New York, despite it's lefty-friendly reputation, would give him a better hitting environment overall. While he has a 214 wRC+ when hitting to the pull side, he also has a decently above-average wRC+ when going the opposite way.
He's pretty much a platoon hitter, being much better against lefties (123 wRC+) than righties (105 wRC+). His ability to play the corner outfield positions would make him a great bat off the bench to hit lefties. Drop Vernon Wells and the Yankees have their new right-handed bat off the bench. He also serves as insurance for Mark Teixeira in case he can't come back from surgery as fast as we all thought. As a bonus, he isn't as terrible in the field as you would think. He has amassed 12 defensive runs saved at first base and, while UZR doesn't like him, he does rate an even 0 DRS.
Best of all is the fact that he's only arbitration eligible and would be under team control through 2017. He's 27, so he's not likely to improve too much at this point, but there's always a chance.
The only think left to look into is who the Angels would want for him. Thankfully, it seems they're looking for major league talent. The Yankees could offer some combination of David Phelps, Adam Warren, Brett Marshall, and Vidal Nuno and still come out on top. If the Yankees sign Masahiro Tanaka and re-up with Hiroki Kuroda, they would only have one spot that needs filling. The Angels, meanwhile, have Jered Weaver, C.J. Wilson, and absolutely no one, so LA might be more willing to give up Trumbo for a few backend-potential starters.
This is highly unlikely to happen because the Angels might still want more for Trumbo and they might want to hold onto him as insurance for Albert Pujols. Still, it could work if both sides are willing.