According to Dollar Thrifty Automotive Group, Inc. a SEC 13D was filed by Minneapolis entrepreneur Denny Hecker for the purchase of 1,075,129 shares, which represents just over 5 percent, of the outstanding common stock of Dollar Thrifty Automotive Group, Inc.
Industry insiders speculate that Hecker may be positioning himself for a strategic play involving DTG and Hecker's wholly owned Advantage Rent-a-Car which has seen extraordinary growth over the last twelve months.
“The industry is poised for growth and Dollar Thrifty Automotive Group looks like an undervalued asset at this time,” Hecker said in a statement to Auto Rental News.
When asked about his future plans Hecker had no comment.
Denny Hecker’s global holdings had more than two billion in revenue in 2007. Hecker owns and operates several businesses in the automotive industry including competitor Advantage Rent A Car and has been involved in several successful past partnerships with rental industry giants.