That's giving up way to much on Toronto's end. Take out Niemela and it becomes reasonable, no chance he's moved for just Schenn

And for cap space by taking Kerfoot

Now that they have McCabe, I don't think Toronto needs Schenn badly enough to give up anything of significant value for him. He would just be injury insurance at this point. Also, Muzzin isn't coming back and they already have room to bring Murray back under the cap, so they don't need cap space unless they're planning to make another move, in which case they could probably include a cap dump in that deal. Otherwise they're better off to keep Kerfoot, because there's no benefit to freeing up cap space going into the deadline if you don't need it.