The board of New Haven, Conn.-based Armtek...

The board of New Haven, Conn.-based Armtek Corp. has urged its shareholders to reject an unsolicited $455-million takeover bid by New York-based Mark IV Industries Inc., calling the $40-per-share cash offer inadequate . . . Security Pacific Merchant Bank has agreed to establish a $100-million secured revolving credit facility for Vestron Inc., Stamford, Conn. Vestron produces and distributes movies, video and TV entertainment . . . L.A. West magazine said it has been acquired by Micromedia Affiliates of Morristown, N.J.