However, the 22 year-old Brazilian's decision to reject the move to PSG, where he would have rejoined former Milan coach Carlo Ancelotti, seems to have scuppered the Tévez deal.
The news came in contrast to rumours throughout the day, in which even Inter Milan president Massimo Moratti threw in the towel, saying he thought Tévez would move to the red half of the city.
Galliani had travelled to London with lawyer Lorenzo Cantamessa and Fifa agent Giuseppe Riso to meet with City and Tévez's representatives.
He was expected to make a final offer to City, believed to be based around a loan util the end of the season and then a compulsory sale, with certain conditions attached.
Milan last week claimed to have already reached an agreement with Tévez while City continued to inist they were not interested in letting the Argentine leave on loan.
Inter and PSG are also said to be interested in the former Manchester United star, with both allegedly having tabled offers.
PSG may resurrect their interest in Tévez now that they have missed out on Pato.