Defuse an escalating situation between leads

I was attending a meeting. The meeting was between three leads of different engineering teams including me. All three leads worked on developing a new infrastructure solution. An objective of the meeting was to find a path forward on what response one of our APIs should return.

Two of the leads had opposing views. Their dispute escalated to raised voices and they stopped to each other arguments. I realized that such a situation will lead to damaged relationships and will stall our progress. I decided to deescalate it.