ˈæftɚɹ ɐn ɪnˈɪʃəl daɪvˈɛstɪtʃɚɹ ɐtˈɛmpt wʌz dᵻɹˈeɪld baɪ ɐ dˈɪsɪdənt bˈoːɹd mˈɛmbɚ, wˈɪljəm ˈeɪ. kˈɑːnweɪ, hˌuː klˈeɪmd ðˌɐɾɪt ɐlˈaʊd wˈɔːɹnɚ kəmjˌuːnɪkˈeɪʃənz tʊ ˈɛɡzɪt æɾə pɹˈɑːfɪt æt ðɪ ɛkspˈɛns ʌv sˈɜːʔn̩ maɪnˈɔːɹᵻɾi ʃˈɛɹhoʊldɚz, ɡˈɑːɹdən stˈeɪt ˈʌltᵻmətli mˈɜːdʒd ɪn nˈaɪntiːnhˈʌndɹɪd ˈeɪɾi wɪð fᵻdˈɛlᵻɾi jˈuːniən bˌæŋkoːɹpɚɹˈeɪʃən ʌv nˈuːɚk wˌɪtʃ lˈeɪɾɚ bɪkˌeɪm pˈɑːɹt ʌv wætʃˈoʊviə.
After an initial divestiture attempt was derailed by a dissident board member, William A. Conway, who claimed that it allowed Warner Communications to exit at a profit at the expense of certain minority shareholders, Garden State ultimately merged in 1980 with Fidelity Union Bancorporation of Newark (which later became part of Wachovia).