By Katherine Hamilton
TFI International said it will keep its corporation status in Canada, reversing an earlier plan to re-domicile to the U.S.
The Montreal, Quebec, company, which operates transportation and logistics across North America, said Monday the change was based on feedback from shareholders.
Earlier this month, TFI said it would move its legal registration to the U.S., citing a better alignment with its shareholder base and commercial presence. TFI has operated in the U.S. since 2011 and does about 70% of its business there, it said. And a plurality of its shareholders are from the U.S.
TFI's departure would have been a potential blow for the Canadian economy as the U.S. has threatened placing tariffs on imports from the country. Chief Executive Alain Bédard previously said incorporating in the U.S. would have made it easier to work with its government, as the company had contracts with the Department of Defense.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 24, 2025 17:11 ET (22:11 GMT)
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