The Globe and Mail reports in its Tuesday edition that TFI International has reversed plans to move its headquarters south after pressure from investors. The Globe's Nicolas Van Praet writes that less than a week after announcing that it intends to change the country where it is legally incorporated to the United States, the Montreal-based freight operator said in a statement Monday that it is dropping that effort. It said it made the decision "based on feedback from shareholders," but gave no further details. TFI chief executive officer Alain Bédard had said he wants to better align the company with its commercial presence and shareholder base, and that a move would allow TFI to be part of U.S. stock indexes. About 70 per cent of the company's operations are currently in the U.S., together with just under half of its investors. However, the proposal did not sit well with at least one major shareholder. Pension-fund manager Caisse de dépôt et placement du Québec, which owns about 4 per cent of TFI, had vowed to push back. "We expressed our dissatisfaction" to the company, the Caisse said in a statement Monday. That appears to have contributed to Mr. Bédard's change of heart. Mr. Bedard declined further comment.