Riverstone Said to Be Leading Bidder to Buy Talen Energy

Buyout firm Riverstone Holdings has emerged as the leading contender to buy Talen Energy Corp., the power generation company it helped form last year, people with knowledge of the matter said.

A deal for the Allentown, Pennsylvania-based power-plant owner could be announced shortly, said one of the people, who asked not to be identified because the information is private. No final decision has been made and Talen could select another buyer or remain independent, the people said.