Xerox amped up its try to amass HP when, on Monday, the printing and imaging big mentioned it has lined up $24 billion in financing agreements to assist fund its unsolicited buyout efforts.

In a letter despatched to HP Chief Government Enrique Lores and Chairman Chip Bergh, Xerox mentioned it has secured assist from Financial institution of America, Citigroup and Mizuho Monetary Group for loans of $24 billion to assist its HP acquisition provide. Xerox’s present proposal values HP at about $33 billion. The letter, which was signed by Xerox CEO John Visentin, was additionally posted on Xerox’s company web site.

Visentin mentioned that Xerox has been talking with lots of HP’s largest shareholders over the previous few weeks, and Xerox believes it’s gaining assist for its proposed acquisiton.

“It stays clear to all of us that bringing our corporations collectively would ship substantial synergies and meaningfully enhanced money circulation that might, in flip, allow elevated investments in innovation and larger returns to shareholders,” Visentin mentioned.

Xerox initially approached HP with a buyout provide in early November. HP has up to now refused all of Xerox’s advances on the grounds that phrases haven’t valued HP extremely sufficient, and mentioned Xerox was participating in “hostile efforts” to amass the Silicon Valley legend. HP additionally questioned Xerox’s monetary capacity to fund an acquistion, and famous how HP’s market capitalization far surpasses that of Xerox. On Monday, HP had a market cap of $30 billion, in comparison with $7.8 billion for Xerox.

In early December, Xerox mentioned it will take its provide on to HP’s shareholders, setting the stage for a possible proxy struggle at HP’s subsequent annual assembly. Visentin mentioned Monday he’s prepared to fulfill with Lores and Bergh in particular person, with or with out HP’s monetary advisers, to start discussions on a deal.

Xerox’s acquisition efforts have additionally been highlighted by the involvement of billionaire activist investor Carl Icahn, who owns stakes in each Xerox and HP. Icahn, who owns 10.6% of Xerox’s excellent shares, in addition to 4.24% stake in HP, has mentioned {that a} mixture of the 2 tech trade stalwarts is a “no-brainer.”

Neither HP, nor Xerox, instantly returned a request for additional remark.