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Cole went unclaimed on waivers and was outrighted to Triple-A Salt Lake on Wednesday.
The 30-year-old was designated for assignment Sunday but will remain with the Angels after clearing waivers. Cole had 38 big-league appearances in 2019 but struggled with a 5.92 ERA, 1.59 WHIP and 50:24 K:BB over 51.2 frames.
