No there is no way to "merge" events.
However, you can move citations around as well as peg to more than one event.
In profile view, look in lower part of right sidebar for "View all sources" link in tiny type below the list of sources.
The next page will list sources. Run your mouse/cursor down the list and you will see that whole lines are highlighted below the header. Left click on the highlighted area containing a citation you wish to move.
On the citation summary page, at upper right click to "edit." On the edit page you must have an entry in the "Details" box in order to be able to save it. This is a good place for a page number, location detail, military service information that goes with the citation, etc.
Scroll down the page to where you can get a drop-down list of events with checkboxes. Choose what event you want to attach the citation to, and uncheck any event you intend to delete that has this citation attached. Click "save" at bottom. If you want to change more citation attachments, click the link at the upper left at the page you get after saving, as above, to see all citations.
Once you've moved the citations you intended to, you can delete the event that you've removed one or more citations from. Click the title of the event, scroll down to where there is a "delete" link in the green part.