A multi-warhead munition includes a first cylindrical warhead having a cavity filled with high explosive, and a second cylindrical warhead offset axially from the first cylindrical warhead. The second cylindrical warhead is a transformable, segmented warhead including a plurality of segments each having an outer segment face bounding a cavity of the segment filled with high explosive. The segments are elongated and mounted at one end for rotation away from an axis of the munition to an open position in which the segment faces are pointed in a forward direction for detonation. Rotation may generally be somewhere in a broad range from about 105 degrees to about 170 degrees, obtaining different effects in different sub-ranges. The munition includes first and second detonators for the first and second cylindrical warheads respectively, the second detonator simultaneously detonating the segments of the second cylindrical warhead.