Rangers striker James Beattie has returned to English football after joining Blackpool on loan for the remainder of the season, while Blackburn Rovers forward El Hadji Diouf heads to Ibrox.
Beattie, 32, joined Rangers in August but has been restricted to only five SPL starts. He has been given permission to leave the club despite the departure of Kenny Miller to Bursaspor, with Rangers signing David Healy on loan from Sunderland.
Blackpool, who earlier signed midfielder Andy Reid, also confirmed the loan signing of Southampton winger Jason Puncheon, while Belarus striker Sergei Kornilenko has further joined the club on loan from Zenit St Petersburg.
Rangers, meanwhile, are restricted by tight financial constraints but they they have managed to strengthen with the capture of Diouf.
The Senegal international was been given permission to leave Ewood Park and passed a medical late on Monday night.
Diouf was the centre of controversy in 2003 when he spat at Celtic supporters when representing Liverpool in a UEFA Cup tie.
Rangers have also signed Arsenal defender Kyle Bartley on loan for the rest of the season.