An executive at Yukos confirmed the substance of the offer but said the government had not yet responded.

"There had been coverages that high some years ago," one executive who works for a leading insurance broker confirmed.

And several executives confirmed that the expansion, while continuing, was quite sluggish.

In June 2012, various creative executives confirmed that the show is still alive.

The two executives confirmed the merger plan in joint telephone interviews yesterday.

The executives confirmed a report of the selection that appeared on Adweek.com.

The executive said Saatchi officials had met with representatives of the investment company and "confirmed their public position."

The offering is scheduled to be announced this week, executives close to the planned deal confirmed.

Japanese executives confirmed that they essentially did not plan to export the models on display at the show.

Another executive with knowledge of the negotiations confirmed that there were two other serious bidders.