Xerox Holding Corp. (XRX) anticipates that its proposed acquisition of personal computer company HP (HPQ) will allow sales growth to reach as much as $1.5 billion, Xerox said in a presentation to HP shareholders Monday. The printer maker says it has a three-year roadmap to grow revenue from $1 billion to $1.5 billion by streamlining its operations.

Xerox is attempting to persuade HP shareholders into accepting a deal which they argue would give them around $17 a share and 48% equity in the merged company.

HP rejected a $22 a share offer by Xerox last month for a total of $33.5 billion, saying that it undervalues the company. By going to HP shareholders directly, Xerox is attempting to get the investors to push HP's board of directors to change their mind on an acquisition deal.

As of Monday at 3:18 p.m. ET, HP shares were at $20.51, up 0.07%.

Rob Enderle, director of tech research firm the Enderle Group, said that HP's approach could create "conflict" for both companies. "Even if both sides supported the merger, there would be significant collateral damage due to conflicts in culture, compensation, span of control, product overlap and channel conflicts," he said. "A hostile takeover makes all of these far worse."

In a Nov. 6 op-ed for CNBC, "Mad Money" host Jim Cramer said that HP and Xerox coming together isn't a bad idea, but it would be more plausible if HP bought Xerox rather than the other way around. The reason is because "Xerox is an $8 billion business. HP is a $29 billion business," he said. Cramer argued that there would be no way for Xerox to successfully purchase HP.

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