Given the belief by many in the industry that "Under Siege's" success is due largely to the fact that it's the only big-time action film currently showing in theaters, it's worth noting that "Die Hard 3" could have taken to the seas before the Seagal film. Both were in development in mid-1990 when, given the popularity of the first two "Die Hard" movies, "Die Hard 3" enjoyed a clear advantage.
But its progress was stalled by personal acrimony, first between original "Die Hard" producers Joel Silver and Larry Gordon but mainly between Silver and Willis, whose relationship soured after collaborating on the megabomb "Hudson Hawk" and the urban thriller "The Last Boy Scout." (The Silver-Gordon feud, widely reported, was caused by Silver snatching Willis away from Gordon, who wanted him for "The Ticking Man," to star in "Boy Scout.") It was the Silver-Willis contretemps that prompted the Fox-Cinergi-Hollywood Pictures arrangement; once "Die Hard 3" goes into production, Silver and Gordon will receive buyouts of at least $750,000 each.
LA Times, November 1992

From the trivia section:
"Originally titled "Simon Says" (where Zeus was scripted as a woman) and was considered by Joel Silver as the fourth sequel to Lethal Weapon (1987). FOX, however, did not agree to sell the script to Joel Silver."
So, maybe JS was all butt-hurt about it.
RIP Ian Richardson (1934-2007)
http://akas.imdb.com/name/nm0007183