A. Yusuf Ali:Translation:
And dispute you not with the People of the Book,
except with means better 3472 (than mere
disputation), unless it be with those of them who
inflict wrong (and injury): 3473 but say, "We
believe in the revelation which has come down to us
and in that which came down to you; Our Allah and
your Allah is one; and it is to Him we bow (in
Islam)." 3474

Muhammad Asad:Translation:
And do not argue with the followers of earlier revelation otherwise than in a most kindly manner - unless it be such of them as are bent on evildoing 42 and say: “We believe in that which has been bestowed from on high upon us, as well as that which has been bestowed upon you: or our God and your God is one and the same, and it is unto Him that We [all] surrender ourselves.”
3472 Mere disputations are futile. In order to achieve our purpose as true standard-bearers for Allah, we shall have to find true common grounds of belief, as stated in the latter part of this verse, and also to show by our urbanity, kindness, sincerity, truth, and genuine anxiety, for the good of others, that we are not cranks or merely seeking selfish or questionable aims.
3473 Of course those who are deliberately trying to wrong or injure others will have to be treated firmly, as we are guardians of each other. With them, there is little question of finding common ground or exercising patience, until the injury is prevented or stopped.
3474 That is, the religion of all true and sincere men of Faith is, or should be, one; and that is the ideal of Islam.