SQL Merge Statement Explanantion

Hello Experts,

We have an SQL Stored procedure that updates records in a table based with the results from a view.

UPDATE RD     
	SET     
		RD.ColA = RTL.COLA,RD.COLB = RTL.COLB
	FROM 
		dbo.TAB1 as RD      
	LEFT OUTER JOIN 
		VIEW2
	ON       
		(RD.CID1  = View2.CID)

The OUTER Join syntax was included to ensure that records that do not have matching values from view get updated with NULL Value.

A team member suggested the use of the Merge Syntax

MERGE INTO TABLE AS TARGET
	USING
	(
		SELECT
			COLA, COLB, CID
		FROM VIEW2
	)
	AS SOURCE
	ON SOURCE.CID= TARGET.CID 
	WHEN MATCHED THEN
		UPDATE
		SET
		COLA = SOURCE.COLA,
		COLB= SOURCE.COLB
	WHEN NOT MATCHED BY SOURCE THEN
		UPDATE
		SET
		COLA= NULL,
		COLB= NULL
	;

Which of the two approaches is best? The execution times are pretty much the same? Can somebody explain the advantage or disadvantage of using either approach?

Regards, Dinesh