(Bloomberg) -- TFI International Inc. won’t move its headquarters to the US, saying it will retain its Canadian corporation status “based on feedback from shareholders received to date.”

The Quebec-based trucking and logistics company made the announcement on Monday after the market closed, less than a week after it told shareholders it would re-domicile in the US. 

Last week’s relocation announcement sparked criticism from one of TFI’s largest shareholders, Caisse de Depot et Placement du Quebec. CDPQ owned a stake of more than 4% in TFI as of Dec. 31, according to data compiled by Bloomberg. Canada’s second largest public pension manager has a dual mandate: to generate returns and to contribute to Quebec’s economic development. 

TFI is the fourth largest for-hire carrier in North America and the fifth largest less-than-truckload carrier, according to Transport Topics and Bloomberg Intelligence.

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