Q: Today, TFII announced that as a result of feedback from shareholders (including a Montreal based pension fund), it will remain a Canadian corporation and not pursue its intention to re-domicile to the US. This makes me uncomfortable with management. How was this not considered before the announcement. Is this reversal best for all shareholders or due to pressures to stay in Montreal? Does this now create additional challenges with tariffs that may have led to the earlier decision to move? Given this misstep and continued risks with tariffs and poor cost management with its recent US acquisition make this a sell rather than hold?
5i Research Answer:
It looks bad on the one hand, but on the other management has at least admitted its mistake and...