TFI International says it won’t move to U.S. after shareholders object

Written by The Canadian Press on February 24, 2025. Posted in Canada.

MONTREAL – TFI International Inc. says it’s going to stay a Canadian corporation instead of moving to the U.S. as previously announced.

The company announced last week it would relocate its legal headquarters south of the border to boost U.S. investment.

Almost three-quarters of TFI’s business comes from the U.S.

TFI International logo is seen in this undated photo. THE CANADIAN PRESS/HO, TFI *MANDATORY CREDIT*

However, on Monday evening the company said that after receiving feedback from shareholders, the move won’t happen after all.

TFI shares also trade on the New York Stock Exchange.

The company’s latest quarter saw profits drop amid stronger competition and weaker demand, with recent acquisitions dragging on earnings.

This report by The Canadian Press was first published Feb. 24, 2025.

Companies in this story: (TSX:TFII)