The companies were last night believed to be making a last-ditch attempt to find out what concessions they could offer regulators in return for approval for the merger.
The companies are expected to agree to merge parts of their manufacturing and distribution operations. However, it is understood that regulators want the companies to offload certain assets to create another music power.
The most likely solution would be a disposal of Virgin Music, the former Richard Branson-owned empire EMI acquired in the early Nineties. EMI CEO Eric Nicoli is said to regard this as an unacceptable solution.
Nicoli is expected to want to clear up any ambiguity about the deal before its financial results are due on May 22.
The talks began last November when EMI's talks with Warner Music collapsed in favour of Time Warner's merger with internet giant AOL.