Critical Defense Ownership Review Act

This bill would bar investment companies, such as private equity funds, from gaining at least 25 percent ownership or control of a major defense supplier without a prior review by the Department of Defense. The parties to such a deal would have to file a premerger notice with the Department of Defense. The Department would review the deal's effects on national security, competition for defense contracts, critical supplies, costs, and the financial stability of the companies involved. Within 30 days of the notice, the Secretary of Defense would send a written report on the review to the Federal Trade Commission or the Justice Department's Antitrust Division. The bill also requires a review every three years of mergers and acquisitions involving major defense suppliers, with reports to Congress starting by December 31, 2027.

Full text and official record on Congress.gov

Sponsors

• Elizabeth Warren Democrat sponsor
• 1 cosponsors