Nice old bicycle relic. Since you asked, if it were mine, here is what I would do. Put the small bent end into a vice. Put a piece of cloth on each side of it, so it doesnt get scratched in the vice. Turn vice handle just to snug up the end of the badge. Now, SLOWLY start to lift the longer end up, then let it rest for a few hours. Go back and do it again, and again. From the pics, it looks as though you would be able to get it straightened out. Now, there is always that slight chance that it will snap, so if you do not want to take that gamble, then I would just leave it alone and display as it is. I'm sure someone will chime in against my advice, but remember, at the beginning I said "If it were mine". I have had great success straightening many items with a vice, but you have to go slowly and have patience.