If there is a review button AND a follow button AND a checkmark next name then it's merged/verified.
Yes after merge the page has all the traditional G+ business features and they can make you a manager.
Since it sounds like you may just be learning about all this want to mention a couple important things. After they merge you can't make any changes in the Places dashboard. Should only make changes in G+.
Plus for future reference on other clients that have NOT merged yet, be advised many types of businesses are not eligible to merge yet and if you try it, it can cause problems.
Even business types that qualify most pros including Blumenthal, myself and even now Jade from Google say to hold off, just too buggy.