The Globe and Mail reports in its Saturday edition that Algonquin Power said Friday it plans to move its corporate headquarters to the United States. The Globe's Jeffrey Jones writes that the redomicile of Algonquin, currently based in Oakville, Ont., would come after years of restructuring that has resulted in the majority of its revenue generated by electricity distributors it owns in several U.S. states. The company, a former market darling whose stock has languished in recent years, said it planned to relocate its head office to Chicago, but maintain a presence in Oakville. It will seek shareholder approval to do so in the first half of 2027. "Today, over 80 per cent of our operations are located in the United States with less than 5 per cent in Canada," Algonquin chief executive officer Rod West said. The shift would reduce cross-border tax costs and increase the potential for a wider range of investors as the stock gets included in more indexes and exchange-traded funds. Ovintiv and Brookfield Asset Management are among companies that have redomiciled in the U.S. in response to expansion of operations in that country and a desire for more passive investment in a much larger market for vehicles such as index funds.