Cooperative Adaptive Cruise Control (CACC) systems are intended to make driving safer and more efficient by utilizing information exchange between vehicles (V2V) and/or between vehicles and infrastructures (V2I). An important application of CACC is safe vehicle merging when vehicles join a main road, achieved by compiling information on the movement of individual main road vehicles. To support such road safety applications, the IEEE standardized the 802.11p amendment dedicated to V2V and V2I communications. This paper seek answers to the questions as to whether the IEEE 802.11p can support merging control and how the communications performance is translated into the CACC performance. We build an analytical model of the IEEE 802.11p medium access control (MAC) for transmissions of the ETSI-standardized Cooperative Awareness Messages (CAM) and Decentralized Environmental Notification Messages (DENM) to support merging control. We also developed a highway merging decision algorithm. Using computer simulations, packet delivery ratio (PDR), and packet inter-reception (PIR) time of IEEE 802.11p-based V2V and V2I communications and their impact on the CACC performance are investigated. Our study discloses several useful insights including that PIR and throughput provide a good indication of the CACC performance, while improving PDR does not necessarily enhance the CACC performance. Moreover, thanks to its ability to reliably provide information at constant time intervals, the V2I structure preferred over V2V as a support for CACC.