TransTechnology, Sherman Oaks, said it received a $20-million credit line from Bank of America to use in its effort to take over Lundy Electronics of Glen Head, N.Y. . . . GSTAR II, the fourth GTE Spacenet communications satellite and the second of an advanced series of all KU-band satellites, will be launched on March 12, GTE reported . . . Pacific Telesis Group has been given permission by a federal judge to acquire Communications Industries, a cellular and paging company . . . Walgreen Co. has agreed to accept Sears' Discover Card.