Arsenal are looking at the possibility of bringing in two of the English Premier League's highly-rated players -- Leighton Baines and Yohan Cabaye 

Baines is having an outstanding season for Everton, and has been the standout left-back in the English Premier League so far. The England international has constantly been linked with a move to Manchester United, although nothing has materialized.

The 27-year-old has previously expressed his intent to stay with Everton until the end of the season, at least, as the Toffees look to seal a top-four place.

However, according to the Daily Star, Arsenal are ready to offer £10 million ($16 million) to Everton for Baines.

Everton rate their player at around £15 million ($24 million), and the Gunners are ready to go up that amount if necessary, as Arsene Wenger looks to shore up his defence, which has been letting in too many goals off late.

Kieran Gibbs only recently signed a new long-term contract, but Baines would provide good competition for the youngster, who can also learn a lot about positioning from the experienced left-back.

Meanwhile, the Gunners are also monitoring the fitness of Yohan Cabaye as Wenger looks to add to his midfield options.

Cabaye has been out long-term for Newcastle and the Magpies have sorely missed the classy Frenchman's services.

The former Lille player was instrumental in helping Newcastle to a lofty fifth position in the English Premier League last season, and he would no doubt add quality to the Arsenal midfield.

According to the Daily Star, the Gunners were put off by the £20 million ($32 million) asking price in the summer, but would be ready to test Newcastle's resolve yet again when the window reopens in the next couple of days.

Wenger has a considerable budget at his disposal, with the Frenchman targeting "exceptional" players in the winter window - with Baines and Cabaye fitting that description well.