I was able to successfully rebuild my Merida battery, and it now works great! Total cost was about $100 with tax. It took me about three hours labor. If you are more mechanically inclined, you can probably do it in less time than I did.
For replacement batteries I used four WKA6-8.2F batteries from Batteries Plus. These are slightly different than the original batteries, but close enough in size and amp hours to work. The original batteries were two 12 volt 9 amp hour batteries (for a total of 24v 9 ah). Replacement batteries were four 6 volt 8.2 amp hour batteries (for a total of 24v 8.2 ah).
To open the case, unscrew the 4 screws at the base of the battery, and the two ones on the side where the power plugs into. You do not need to undo the screws at the top where the metal plate is. That area controls the ignition and can be left alone.
Inside you will find two SLA batteries that are wired together.

Add in the new batteries. You will need to wire them all together to complete the circuit. I was fortunate in that the guy at at the Kennewick Batteries Plus store soldiered all of my connections together and did it for free! Wire in positive and negative connections on the two ends, these will connect back into the electrical system. Notice that the four batteries fit in quite nicely. Sorry about the cluttered work bench. :)

The fit is kind of snug for putting the cover back on. Make sure to neatly manage the wiring as best you can, so the cover will go.
Enjoy!

Happy cycling. :)