A bill to require a review of acquisitions by investment companies involving acquisition of controlling interest of major defense suppliers, and for other purposes.
About This Bill
Committee
Latest Action · June 10, 2026
Read twice and referred to the Committee on the Judiciary.
This bill requires the Department of Defense to review and approve any deal where investment companies gain at least 25 percent ownership or control of major defense suppliers before the transaction can proceed. Investment firms, private equity companies, and other investment entities would need to submit detailed notifications to the Pentagon, which would then assess national security risks, impacts on competition for defense contracts, effects on the defense supply chain, and the financial stability of both the defense company and the investment firm involved. The bill defines major defense suppliers broadly to include prime contractors, subcontractors, and companies with significant defense technology. Additionally, the legislation requires the Defense Department to conduct a comprehensive review every three years of all merger and acquisition activity involving defense suppliers and submit findings to Congress by December 31, 2027, and every three years thereafter. The bill does not specify new funding but places review responsibilities on existing Pentagon offices.
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