Gunners expected to sign £19m star this January.
Arsenal look set to beat the likes of Manchester United and Liverpool to the signing of Paris Saint-Germain playmaker Yohan Cabaye, according to the Daily Express.
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The French international wants out of the Parc des Princes this winter after struggling to settle since his move from Newcastle United last year, and the Emirates Stadium is his preferred destination.
United and Liverpool have also shown interest in the 28-year-old, who showed himself to be a top performer during his first spell in English football.
Still, Arsenal are ready to spend big on a new midfielder to replace the injured duo of Mikel Arteta and Jack Wilshere, with Cabaye looking the likely replacement.