text: 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 Barrick 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