Yes, there may be a ex-div effect to $JEF, but given $LUK div is only ~1% div, it will be small effect, somewhat off set by the accelerated div.
What it driving $JEF is the bidding war on $KCG, which $JEF will be funding. They win on the price and they win on the financing. And the more $JEF makes, the more $LUK NOLs which can be applied and accelerated. The leverage in this deal is impressive and now the techncials are backing a move higher, especially if $LUK closes above $23.90, as even with a 1% ex-div efect, we should close tomorrow above the MA(200)d, with a golden cross in sight soon.