What does Preamble of Critical Defense Ownership Review Act do?

This bill requires a review of acquisitions by investment companies The review involves acquisition of controlling interest of major defense suppliers The bill has other purposes beyond the specified review

What does SHORT TITLE. of Critical Defense Ownership Review Act do?

This bill is formally titled the Critical Defense Ownership Review Act.

What does REVIEW OF ACQUISITIONS BY INVESTMENT COMPANIES INVOLVING of Critical Defense Ownership Review Act do?

This section regulates investment companies' acquisitions of major defense suppliers. It requires prior review by the Department of Defense for transactions resulting in 25% or more equity interest. Parties must submit a premerger notification to the Department of Defense. The Department of Defense reviews the transaction for national security and public interest impacts. A report on the review is submitted to antitrust authorities within 30 days.

What does TRIENNIAL REVIEW OF MERGER AND ACQUISITION ACTIVITY ASSOCIATED of Critical Defense Ownership Review Act do?

This section requires the Assistant Secretary of Defense for Industrial Base Policy to conduct a triennial review of merger and acquisition activity involving major defense suppliers. The review will assess the financial health of firms after mergers and acquisitions and whether these actions impact the supply of essential goods or services for the Department of Defense. The Secretary of Defense for Industrial Base Policy must submit a report to the congressional defense committees by December 31, 2027, and triennially thereafter. The report will detail the effects of completed mergers and acquisitions on the defense industrial base and any mitigation actions taken.

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Critical Defense Ownership Review Act

Last updated: 6/11/2026 · Introduced: 6/11/2026

Author: Ro Khanna (D-CA)

TL;DR (AI)

The bill mandates review by the Department of Defense for acquisitions by investment companies that result in at least 25% equity interest in major defense suppliers.
It requires a triennial review of merger and acquisition activity involving major defense suppliers to assess impacts on the defense industrial base.
The Secretary of Defense for Industrial Base Policy must submit reports to Congress detailing the effects of completed mergers and acquisitions on the defense industrial base and any mitigation actions.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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