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tldr; A poison pill is a shareholder rights plan or other strategy that can be used to fend off an acquirer or force them to the negotiating table.
Cited article has examples of hostile takeover bids thwarted using Poison Pills from '80s used in the Oil industry to Netflix in 2012.
It is not a total ban on acquisition but more of a strategy to help the board with a negotiating tool.
> Is there any way to structure a company, or something we can do, so that it legally cannot be acquired by Facebook? Something beyond just making a pledge. Sure. Write it into the articles of incorporation. You could even require unanimous shareholder approval to change that clause. Of course, if you're the sole shareholder, you can still unilaterally change those terms. But presumably that's not the case that needs…
> Write it into the articles of incorporation. You could even require unanimous shareholder approval to change that clause. can you write it in such a way as to prevent any future shareholders from changing it without dissolving the company?