Baxter Makes Run At W.R. Grace

Baxter International Inc. has offered $3.8 billion for W.R. Grace & Co.’s National Medical Care subsidiary, a big operator of kidney dialysis centers that has been under fraud and quality control investigations.

Baxter, based in suburban Deerfield, said it made the offer on Jan. 31 and announced it Friday, even though Grace has not agreed to accept it. The announcement represented a Baxter effort to bring pressure on Grace’s board from its shareholders to accept the offer, said Harry M. Kraemer Jr., Baxter senior vice president and chief financial officer.