Davis Polk & Wardwell and Debevoise & Plimpton have bagged the lead roles on the latest major deal in the busy mining sector, as the US M&A market continues to motor.

The Wall Street leaders are advising on the $25.9bn (£13.7bn) bid by US-listed mining giant Freeport-McMoRan Copper & Gold (FCX) for rival group Phelps Dodge