From Politico:

Bill Clinton sought to persuade Rep. Kendrick Meek to drop out of the race for Senate during a trip to Florida last week — and nearly succeeded.
Meek agreed — twice — to drop out and endorse Gov. Charlie Crist’s independent bid in a last-ditch effort to stop Marco Rubio, the Republican nominee who stands on the cusp of national stardom. […]
“It was a completely done deal,” one source said.
The Crist, Meek and Clinton camps even set a date for an endorsement rally: the following Tuesday, Oct. 26.

Meek camp denies:

“The article is not true. Kendrick Meek was never dropping out of this race, is never dropping out of this race, and will never drop out of this race. Kendrick Meek will always stand up for the middle class and will not leave Floridians a choice between two lifelong conservative Republicans who only stand with the special interests. Kendrick is the Democratic nominee so if anyone should drop out, it’s Charlie Crist.”

Crist camp confirms:

“While this story is accurate, the Governor’s focus is on uniting common-sense Democrats, independents, and Republicans behind his campaign because he is the one candidate who can defeat Tea Party extremist Marco Rubio and deliver bipartisan results for Florida in Washington.”

UPDATE: Rubio’s campaign just released a statement expressing confidence that this won’t affect the race:

As of today, more than 1.7 million Floridians have already voted – approximately 1/3 of all likely voters (4.8 million Floridians voted in 2006, the last midterm election). There is not a single public poll which shows Crist leading Rubio in a hypothetical two-way race. As of yesterday, our internal tracking showed Crist and Meek in a statistical dead heat. Among those who have already voted, our internal polling actually shows Meek beating Crist 28% to 24%.