S.Amdt. 1551

1. Adds DIVISION D--CERTAIN MERGERS, ACQUISITIONS, AND TAKEOVERS at the end of the bill

   Adds a section

   In S. 1042 · Placed on Calendar Senate

   "(5) $600,000,000 before the end of fiscal year 2013.".

   Inserted: DIVISION D--CERTAIN MERGERS, ACQUISITIONS, AND TAKEOVERS

   Inserted: TITLE XLI--MERGERS, ACQUISITIONS, AND TAKEOVERS

   Inserted: SEC. 4101. DEFENSE PRODUCTION ACT.

   Inserted: (a) In General.--Section 721 of the Defense Production Act (50 U.S.C. App. 2170) is amended--

   Inserted: (1) by redesignating subsections (g) and (h) as subsections (i) and (j), respectively; and

   Inserted: (2) by inserting after subsection (f) the following:

   Inserted: "(g) Notification and Investigation.--

   Inserted: "(1) Notification.--

   Inserted: "(A) In general.--Any entity described in subparagraph (B) shall notify the President at least 60 days before a proposed merger, acquisition, or takeover described in subparagraph (B)(ii).

   Inserted: "(B) Entity described.--An entity described in this subparagraph is an entity that--

   Inserted: "(i) is controlled by, or acting on behalf of, a foreign government; and

   Inserted: "(ii) seeks to engage in a merger, acquisition, or takeover of a United States entity that has energy assets valued at $1,000,000,000 or more, that could result in control of a person engaged in interstate commerce in the United States that could affect the national security of the United States.

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   Inserted: "(2) Investigation.--A mandatory investigation under subsection (b) shall be required in the case of a merger, acquisition, or takeover described in paragraph (1)(B)(ii) by an entity described in paragraph (1)(B).

   Inserted: "(h) President's Designee Defined.--In this section, the term 'President's designee' means the Secretary of Commerce, the Secretary of Defense, the Secretary of Homeland Security, the Secretary of State, the Secretary of the Treasury, the Attorney General, the Director of National Intelligence, and appropriate employees of the Executive Office of the President.".

   Inserted: (b) Notification.--Section 721(i) of the Defense Production Act (50 U.S. C. App. 2170), as redesignated by subsection (a)(1), is amended--

   Inserted: (1) by striking "The President" and inserting "(1) Report on action.--The President"; and

   Inserted: (2) by adding at the end the following:

   Inserted: "(2) Report on notification.--The President shall immediately transmit to the Secretary of the Senate and the Clerk of the House of Representatives written notification as soon as the President receives a notification under subsection (b) or (g).".

   Inserted: (c) Factors To Be Considered.--Section 721(f) of the Defense Production Act (50 U.S.C. App. 2170(f)) is amended--

   Inserted: (1) by striking "and" at end of paragraph (4);

   Inserted: (2) by striking the period at the end of paragraph (5) and inserting ";"; and

   Inserted: (3) by adding at the end the following:

   Inserted: "(6) the robust and expanding defense capabilities of the country in which the acquiring entity is located; and

   Inserted: "(7) the nature of the bilateral relationship with the country in which the acquiring entity is located.".

   Original wording

   At the end, add the following:

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As printed