The 32-year-old Sherrill (20 saves, 2.40 ERA) is expected to either be the Dodgers' set-up man, or share closing duties with Jonathon Broxton.
The trade will certainly help the Dodgers bullpen and solidify their chances of making a World Series run.
The two prospects the Orioles got in return—third baseman Josh Bell and right-handed pitcher Steve Johnson—were both at Double-A Chattanooga.
Bell is a very talented third baseman who is just starting to put things together. His walks are up and his strikeouts are down while his power numbers and batting average have both increased. This year, he is batting .296 with 11 home runs and 52 RBI, all at Chattanooga.
Bell's only real problem is hitting left-handed pitchers, which is something he can certainly learn with a year or two more in the minors. He could also be moved to first base, another position the O's are looking to fill in the future.
Johnson is a solid right-handed pitcher who could factor into the back of the O's rotation someday. In time between High-A Inland Empire and Double-A Chattanooga, he has is 9-5 with a 3.61 ERA, with 117 strikeouts in 107.1 innings pitched. He also happens to be from Baltimore.
Bell and Johnson were ranked the sixth and ninth best prospects in the Dodgers' organization by Scout.com.
This trade should definitely help the Dodgers this season, and don't be surprised to see Bell and Johnson performing well for the O's in the not-too-distant future.