Which model? I believe the Merit came in different models. What I do know is that it has rather short chain stays, which can be problematic when using panniers. Does you frame have mounts for a rear rack? Gearing will most likely be an issue. I would want lower gearing than what it comes with. I believe they had a Merit Sport which had a carbon frame, and the others were aluminum. I would refer a steel frame for touring over the aluminum Merit frame. Aluminum frames can be made for touring, and can be quite nice, like the old Cannondale touring bikes, but they were made for touring, and were made strong enoughfor touring loads. The Merit wasn't designed for touring, so I am not sure how heavy of a load it could safely carry.

You can tour on almost any bike, it just depends on how you want to tour. Will you be doing credit card touring, staying in hotels? Will you be camping? If you will be camping you will have to carry more.

You say you have many bikes. If you have an old mountain bike, it might be a better choice, depending of course on the particular mountain bike. Hardtail mountain bikes from the 80s can often work well for touring.