Part one: LSU officials "reacting quickly" to Les Miles meeting with Michigan officials apparently did not so much happen:

First, there was no late-night meeting with Miles and LSU AD Joe Alleva or other high-ranking university officials in an effort to convince the coach to stay. After Miles’ meeting with Michigan AD Dave Brandon, Miles went home.

Part two: Adam Rittenberg reports via his Big 12 compatriot that Les Miles is not in Dallas despite being scheduled to speak at 3 PM. If he is taking the job, he would be at Michigan's scheduled meeting with the players at 4.

UPDATE: Flight tracking suggests that Miles isn't in Dallas yet but probably will be. This flight leaves essentially now:

For what it is worth, a twin prop is scheduled to go from Baton Rouge to Love field in Dallas at 11:12 CST. The plane is owned by a Med transport company, but is most likely chartered by LSU for the trip. Plane is making a 11 minute flight from Lafayette to Baton Rouge prior to the Dallas trip.

Either that or Les is flying American Eagle to DFW. Yeah right.

[HT to Kirk Fauri.] So… if the meeting gets moved that's a good sign. If it doesn't, not so much.

UPDATE II: LSU sources at their Rivals site and some local radio station are reporting Miles will stay at LSU. Radio is whatever but usually Rivals guys are plugged in. The Rivals stuff is currently paywalled, however, so its unclear how definitive that information is.