Both club's have agreed the £9 million fee for Bowyer and Liverpool are said to have offered the 25-year-old midfielder a five-year contract worth a lot more than the one he has at Elland Road.
But, Bowyer has returned to Yorkshire without signing after two days of talks on Merseyside and an Anfield spokesman confirmed: "Talks are still ongoing."
Bowyer has completed a medical and Liverpool hope to complete the deal before their squad leave for this Friday's friendly in Le Havre.