The tragic Bohemian Rhapsody singer made a friend of Jackson in the early 1980s and the two superstars plotted to work together, but things hit a snag when the Thriller hitmaker insisted on showing up to work with his llama.
In a new Dvd expose of Mercury's solo career, the late star's manager Jim 'Miami' Beach says, "They got on well except for the fact that I suddenly got a call from Freddie, saying, 'Miami, dear, can you get on over here... You've got to get me out of here. I'm recording with a llama... I've had enough and I want to get out."
And it seems Mercury lived to regret walking away from the project - in a lost interview recovered for the new Dvd, Freddie Mercury: The Great Pretender, he says, "I think one of the tracks would have been on the Thriller album if I had finished it, but I missed out."
The expose features a snippet of a demo Jackson and Mercury recorded for a song titled There Must Be More To Life.
Director Rhys Thomas' Mercury movie also features new interviews with the singer's Queen bandmates Brian May and Roger Taylor, Spanish diva Montserrat Caballe, who teamed up with the rock star for an operatic album, and friends and associates of the late Another One Bites the Dust hitmaker, as well as rare footage of Mercury performing with the Royal Ballet and lost Tv chats.