Critical Defense Ownership Review Act
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Summary
The Critical Defense Ownership Review Act requires the Department of Defense to review and approve acquisitions by investment companies that would result in 25% or greater ownership or control of major defense suppliers. The bill establishes a premerger notification process and mandates that DoD assess national security impacts, effects on competition for defense contracts, risks to financial stability, and potential restrictions on critical defense supplies. Additionally, the bill requires the Assistant Secretary of Defense for Industrial Base Policy to conduct triennial reviews of merger and acquisition activity involving major defense suppliers and report findings to Congress.
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