General-purpose handling of VCF files is outside PLINK's scope; use e.g. VCFtools or PLINK/SEQ for that.
What PLINK can do is import VCF files into its own format (which can currently only represent biallelic variants), and export to VCF from it. So if the *only* thing you need to keep in your VCF files is the biallelic variant calls, you can do the following:
1. import to plink format using --vcf + --out
2. merge the plink-format filesets with --merge-list
3. convert the merged data back to VCF using --recode vcf
But if you also still need to keep variant qualities or the like, PLINK is not the right tool for the job.