Looks like Herman is out. http://www.nola.com/lsu/index.ssf/2016/10/houston_coach_tom_herman_to_te.html#incart_most-read_
I know these type of reports are never wrong, but until he signs on the dotted line he's not out. FWIW, I think Jimbo has always been the #1 target of TPTB.
It's like one of the comments under the article said - 'If Herman has already taken the first offer Texas threw his way, without letting a bidding war with other schools take place, then he's a damn fool. Unless they offered him enough that he's one of the highest paid HC in CFB... in that case, he's brilliant, and the Longhorns are the fools.'