Variety are reporting that Paramount Pictures and Dreamworks are planning to release the Transformers sequel on June 26th 2009, though this may of course be subject to change — especially with the writer’s strike dilemma.
The article also speculates that Michael Bay will return to direct — he is in the final stages of negotiation. There are also high expectations concerning Spielberg’s involvement with the sequel, especially considering his close work with the project and his ongoing working relationship with Shia LaBeouf (see Indiana Jones 4).