Scout has the details if you're a premium subscriber but the word is that they offered a 1st round pick and a 4th round pick. The Packers pick 16th in the first round and have the 112th overall pick in the 4th round. Gotta say if that is it, I'm not trading Larry Johnson. The Packers would have to sweeten the deal with something else.
This is one is still in Rumorville so we'll wait and see.
**UPDATE** Apparently, Larry Johnson has not been given permission to talk to any other teams, making the Green Bay offer a big rumor at this point. Tip to Pro Football Talk. Rumors replacing rumors. I have no idea who to believe anymore...