Steemit Inc. is just a website that is a frontend to the STEEM blockchain. The code is open source and anyone could clone it. AFAIK Busy.org gives you the exact same access to the data SteemIt has - it's all on the blockchain AFAIK except for a bit of temporary data that is stored in on browser data store.

And they obviously can "acquire STEEM" itself unless they buy all the STEEM tokens and take over all the witnesses. More likely they might invest in buying a lot of STEEM and then using SMT in some way. However as others have pointed out - they are a big enough company that they could just clone the STEEM idea and launch FACE blockchain along with FMT.

Acquiring Steemit might be something they would try just to acquire expertise. Hopefully @dan and others have made enough in their blockchain ventures so far that they would have to be give a ludicrously high offer to make that FB's worthwhile. Then again FB did pay what $20B for WhatsApp - but they had 450 million users at the time of acquisition. Steemit has only hundreds of thousands (300K MAU).