Canada’s TFI Abandons Move to US After Shareholder Backlash (2)

Canadian trucking company TFI International Inc. reversed its decision to move its legal headquarters to the US, saying it was backing down after shareholders expressed opposition to the idea.

The Montreal-based company told investors last week that it planned to change its domicile to the US, where about 70% of its operations are now located after an acquisition spree. TFI has bought dozens of businesses over the years, and in 2024 it closed the purchase of Daseke Inc. of Texas for $1.1 billion, including debt.

But the relocation plan drew a swift rebuke from the powerful Caisse de Depot et ...