Clifford Chance has bagged its biggest US M&A mandate to date, advising American Power Conversion, which is to be acquired by Schneider Electric for $6.1bn (£3.2bn). The magic circle giant fielded a team out of its New York office with M&A partner John Healy leading a 15-lawyer team, including tax partner Phillip Wagman. Elite New York firm Cravath Swaine & Moore is representing the bidder.