Fox is also trying to close a deal with original Independence Day director Roland Emmerich to return for the sequel. Will Smith will not be returning for the film, but Jeff Goldblum has said that he is involved in the project.
It's worth noting that Fox has only greenlit one film, despite rumors that the sequel may be a mutli-film affair.
Independence Day was a huge Hollywood Blockbuster in 1996. The film involved a large scale alien invasion of earth, and scrappy humankind uniting to fight back on July 4.