Solar Industries, an Indian explosives manufacturer, made an unsolicited all-cash bid of R134.50 per share (R21.8 billion total) for South African fertilizer and explosives company Omnia, representing about 6% of Solar's market cap. The acquisition is strategically motivated by Solar's desire to expand internationally, leverage Omnia's fertilizer expertise, and consolidate its detonator manufacturing capabilities, with the deal expected to result in Omnia's delisting from the JSE in Q2 2027.