Maybe not the most exciting transfer news, but Sotirios Kyrgiakos has left Liverpool. Unreported fee, but many sites are reporting it was a free. Given that he's on low wages (generally assumed to be around 15k-20k a week) compared to the rest of Liverpool's "deadwood," (Joe Cole is on 90k-110k, for instance) it would seem a bit odd to let the Greek leave at this point, especially since he has been the fourth choice behind Carragher, Agger, and Skrtel, and now has only Wilson (heavily rumored to be going out on loan) and Wisdom (only 17) behind him.
However, according to both The Telegraph and The Times of London (sorry, no link because of the paywall), Liverpool are looking to sign Sebastian Coates from Nacional in Uruguay (coincidentally, Nacional was the club Luis Suarez played for). Turning 21 in October, Coates already has 5 caps for Uruguay and won the Best Young Player of the Copa America. Because of his games in the Copa America, obtaining a work permit shouldn't be difficult (assuming he doesn't already have a European passport, which is always a possibility due to the heritage of many South Americans).
Either way, Coates is likely to be the final signing for Dalglish this summer. The only other position that would need strengthening would be at striker, but with Carroll, Suarez, and Kuyt the senior options and Michael N'Goo and Adam Morgan quickly coming up through the reserves, reinforcement at this position is not absolutely necessary. However, Craig Bellamy has been linked with a return to Liverpool. At 32, and having spent last season on loan in the Championship, Bellamy would not be a typical FSG/Comolli/Dalglish signing, but would provide another veteran option up front.
Other players likely to be leaving in the near future are Joe Cole (with a loan to QPR the most likely option, though Liverpool would continue to pay a portion of his wages) and Alberto Aquilani (for a rumored 5m fee... bleh). Clearing out the deadwood has been slow and steady, but has gone about as well as any of us could reasonable hope for. Of course, getting rid of Poulsen would make me way too happy.