"It is pretty obvious I am upset about that and I would rather focus on what for us has been a tough day. We have 37 games to go and we need to make sure we don't let this game emotionally scar us.
"I am not sure of the exact terms of it [the bid] but it is below our valuation of the player for sure This is a terrific player."
Pardew compared the disruption caused to Cabaye to that created by bids for Liverpool's Luis Suarez and Tottenham's Gareth Bale.
"There is a question about the window being closed before we kick off the Premier League season," Pardew said. "I know the Premier League asked the European leagues to do it and they said the European leagues wouldn't fall in line.
"After the summer we have had, the situations we have had, with Wayne Rooney as well, it is definitely something they need to put under the microscope again."
Newcastle immediately turned down Arsenal's offer for Cabaye and made it known they considered Arsène Wenger's valuation to be "derisory". In a direct conversation with Dick Law, Arsenal's contract negotiator, it is understood that Newcastle owner Mike Ashley responded to the offer with the words: "Which part of him do you want to buy?"
When Law assured him that Arsenal's offer was genuine, Ashley then apparently said that they should come back with at least £20?million if they were serious about starting negotiations. Arsenal have not, as yet, returned with a second offer but they did yesterday also bid for Pogba, the former Manchester United midfielder, who is now at Juventus.
United lost Pogba last summer when he turned down the offer of a contract and opted instead to join the Italian side. The 20-year-old central midfielder played regularly for Juventus last season and, having been compared to a young Patrick Vieira for much of his career, has broken into the France squad. Juventus would also value Pogba at about £20?million but there is a sense that they might be more willing sellers than Newcastle.
Arsenal had always wanted to add at least one midfielder this summer but their need has become even more acute over the past week following injuries. Cabaye, who cost Newcastle only £4.8?million two years ago, is keen to leave the club. However, Ashley will be aware that a bidding war could now begin. Paris St-Germain have made no secret of their interest in Cabaye and their very public flirtation has annoyed Newcastle. Monaco have also been tracking the former Lille playmaker.
As well as a midfielder, a new striker is at the top of Wenger's list of priorities and Arsenal have still not completely given up hope on Suárez or even Manchester United's Rooney.
They would also like to add a right-sided defender and there is interest in Manchester City's Micah Richards. Another option is Mathieu Flamini, who left Arsenal for AC Milan in 2009 but is now a free agent and back training at the club. Flamini can play at full-back as well as central midfield.
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