Raila chaired the meeting for three hours before the arrival of Mudavadi.
The delay sent fears among some NEC members that the DPM would not turn up.
Raila and Mudavadi, unlike in the previous NEC meetings where there was a falling out on Wednesday shook hands and posed for pictures before the press conference.
Earlier, Raila had said the contest between him and Mudavadi would eventually strengthen ODM and that so far, it was the most talked about party.
"The contest has opened up the democratic space in the party and it will unite its members," Raila said.
The PM said if Musalia beats him in the nomination, he would support him to succeed President Kibaki.
Raila said ODM was the only party where the presidential ticket was being hotly contested, as the others had preferred aspirants who would get direct nomination.
Ndolo said the party would not split, as it did not belong to either Raila or Musalia, but the masses.