One more federal hurdle was cleared last week in Cleveland-Cliff's acquisition of an Ohio-based steel manufacturer.

Cleveland-Cliffs Inc., which owns AK Steel, received notification from the Federal Trade Commission's Bureau of Competition that its waiting period under a 1970s antitrust law will be terminated early, setting the stage for its acquisition of ArcelorMittal USA LLC and its subsidiaries.

That acquisition, which was announced in late September, will carry with it a $1.4 billion cost, in both cash and stock, for the AK Steel Holding Corp. owner. Cleveland-Cliffs said it plans to close the deal this month.

ArcelorMittal's manufacturing operations comprise largely the same functions of AK Steel. Cleveland-Cliffs touted that this deal would make it the largest producer of flat-rolled steel in the United States. Additionally, ArcelorMittal produces a large amount of steel for the automotive industry, much like AK Steel.

A Cleveland-Cliffs spokesperson did not return a request for comment on how, or if, the acquisition would affect AK Steel's operations.

ArcelorMittal does not have any plants in Butler County. The nearest site is in Monessen, Westmoreland County, with other locations in Coatesville, Chester County; Steelton, Dauphin County; and Conshohocken, Montgomery County.

This sale is another major acquisition for the Cleveland-based company. With its ArcelorMittal acquisition expected to close roughly a year after its announcement of the AK Steel acquisition, Cleveland-Cliffs could see a leap in revenue next fiscal year. The company posted nearly $2 billion in revenue during 2019, and reported more than $3 billion in revenue between Jan. 1 and Sept. 30 this year.

Since the early termination announcement on Nov. 25, Cleveland-Cliffs' stock price has risen more than 9%, from $10.85 per share at the end of business Nov. 24 to $11.86 Tuesday evening.