This bill establishes a mandatory review process by the Department of Defense for acquisitions where an investment company seeks to obtain at least a 25 percent equity interest or direct or indirect control of a major defense supplier . Such transactions require a premerger notification to be submitted to the Department of Defense, which will then conduct a comprehensive review. This review is designed to assess the potential impact of the transaction on national security , the industrial and technological base, competition for DoD contracts, and the financial stability of the defense supplier and military capabilities. The Department of Defense's assessment will specifically consider factors such as the potential restriction of critical goods or services, risks to the continued stewardship of military capabilities, and any anticipated increased costs to the Department. Following this review, the Secretary of Defense must submit a written report to the Federal Trade Commission or the Department of Justice's Antitrust Division within 30 days. Furthermore, the bill mandates a triennial review by the Assistant Secretary of Defense for Industrial Base Policy to evaluate merger and acquisition activity involving major defense suppliers, assessing their financial health and impact on the supply of essential goods and services, with findings reported to Congress.