Found this rumour posted on RealGM.com. No "REAL" source but Yogi is a moderator at RealGM and says his source is secret but credible.
"Rumour: Raptors nearing S&T for Batum??
by YogiStewart on Wed Jul 11, 2012 12:36 pm
Take it for what its worth. It may be talk or it may be a la the Lakers back-dooring for Nash.
a poster that will remain nameless - and who's been around for a while - suggested that the Raptors have turned their attention away from getting Iggy from Philly and are making a strong offer to Portland to S&T Batum.
I was told that the Raptors were frustrated with Philly's delay in making the trade and are looking at Batum. The offer's apparently strong.
so yeah, take that for what its worth. may be worth something, may not. we'll see in a few days."