The boys made peace when they bumped into each other at the gym on Sunday night's episode, with Pete offering the first olive branch to his co-star.
"I owe you an apology for getting in your face," said Pete.
"I was shocked, mate. I haven't seen a side to you like that before but what is done is done now," replied Mike.
Pete said all he wanted was Mike to apologise to Megan, which he did.
"I feel like it's best we draw a line in the sand, really, and move on," said Mike, to which Pete replied: "I agree."
They shook hands and went their separate ways.
TOWIE fans know that Mike waded into Megan and Mike's romance in Majorca, when he claimed to have seen a photo of her hanging with men in Ibiza while on a girls' holiday. He also said a pal told him Megan had been flirtatious. She vehemently denied that and it all led to a confrontation between Megan, Pete and Mike, in which voices were raised and insults exchanged including Mike calling Megan a "slag" off camera.
But he later apologised to her, saying: "I'm not going to beat around the bush here. I genuinely am really, really sorry. I shouldn't have spoken to you like that. It was bang out of order. I spoke to Pete the other night and I said that I did want to come and apologise to you because I actually felt really, really bad about it all.
"I should never speak to a girl like that and the way I rose my voice at you was bang out of order. I did lose my head massively and I shouldn't have done it."
10 reasons why we want to be in TOWIE:
Follow us on Twitter @RevealMag for all your celeb, fashion and beauty news!