Critical Defense Ownership Review Act requires review of investment company acquisitions of major defense suppliers.

The Critical Defense Ownership Review Act mandates that investment companies must obtain prior review from the Department of Defense before engaging in transactions that result in a 25 percent or greater equity interest or control of major defense suppliers. The Act defines "covered transaction" as mergers, acquisitions, joint ventures, strategic alliances, or investments occurring after the Act's enactment. The Department of Defense must assess the impact of such transactions on national security, industrial and technological base, and public interest.

Critical Defense Ownership Review Act requires review of investment company acquisitions of major defense suppliers.

The Critical Defense Ownership Review Act mandates that investment companies must obtain prior review from the Department of Defense before engaging in transactions that result in a 25 percent or greater equity interest or control of major defense suppliers. The Act defines "covered transaction" as mergers, acquisitions, joint ventures, strategic alliances, or investments occurring after the Act's enactment. The Department of Defense must assess the impact of such transactions on national security, industrial and technological base, and public interest.