Lundy Electronics rejected TransTechnology’s bid.

Lundy directors termed TransTechnology’s $18.2-million takeover offer inadequate. They also accused TransTechnology, a Sherman Oaks-based defense firm, of using coercion to try to acquire Lundy’s defense products division. Lundy, which is based in Glen Head, N.Y., said it might respond to the takeover bid by seeking a friendly merger partner, selling the defense products division to another company or adopting anti-takeover measures.