Yeah, I could see Happ for Bastardo being a real possibility. It seems the team is ready to roll with Sanchez/Estrada in the #5 spot, and Bastardo can become the closer (or Cecil becomes the closer and Bastardo replaces Cecil's role....no difference).
As far as this "rumor", Hamels and Utley are both 4 win players, and Bastardo is probably a 1 win player at best. That would be a significant improvement if they made that deal without losing anyone on the MLB roster except replaceable parts (Happ, Romero, etc, for salary reasons + top prospects). Not sure the Jays should be making a deal like that given what they did two years ago, but at least the improvement figures to be great enough to add nearly 10 wins to the roster depending on how healthy Utley stays and whether Hamels can transition to the AL East (which I think he would). Very expensive and short-sighted though, which is right up AA's alley.