Barrick gets 93 pct of Arequipa .  TORONTO 1996-08-27  Barrick Gold Corp said on Tuesday its takeover offer for Arequipa Resources Ltd was successful , with 93 percent of the 36.3 million shares not already owned tendered under the bid , which expired overnight .  " We are pleased that Arequipa shareholders ahave chosen so overwhelmingly to accept this offer .  We now have the opportunity to realize the potential of Arequipa 's excellent assets , " Barrick chairman and chief executive Peter Munk said in a statement .  The C$ 30-a-share deal means [START_ENT] Barrick [END_ENT] will own Arequipa 's attractive Pierina gold deposit in Peru .  Barrick said details involving the allocation between Barrick shares and cash will be available shortly .  Barrick 's offer of C$ 30 a share or part cash , part share offer was Barrick 's second attempt to swallow the small Vancouver-based gold prospector .  Toronto-based Barrick , the world 's third largest gold producer , sweetened its July 11 bid to C$ 30 a share from C$ 27 on August 16 after a fresh batch of drill results from the Pierina deposit .  Experts have speculated the deposit has potential reserves of up to 12 million ounces .  More drilling results are expected soon .  The Barrick bid took observers by surprise , since Arequipa 's exploration was still in its early stages .  Arequipa shareholders had the option to choose C$ 30 cash or 0.79 Barrick shares plus 50 cents for each Arequipa share .  Shares were to be pro-rated if more than 14.4 million were requested .  -- Reuters Toronto Bureau 416 941-8100
Barrick Gold