PAINE'S EXPANSION INTO TEXAS
Continuing the trend of regional acquisitions by national financial organizations, Paine Webber Inc. said yesterday that it signed a letter of intent to buy the Rotan Mosle Financial Corporation, the leading regional brokerage house in the Southwest. The transaction calls for the Houston-based Rotan to receive 1,490,000 shares of Paine Webber stock, valued at about $80 million. In recent months, national financial organizations that are seeking to grow have been looking at regional brokerages. ''In my travels around the country, a number of these regional brokerages bring up the fact that they're constantly being approached,'' said Perrin Long, a securities industry analyst with Lipper Analytical Services. ''So I would think there's good competition for them.''