Here I depict a scenario where I create two branches - both directly from Main. A specific file is modified in both branches. In one branch I change the contents and in the other it's renamed. The following video depicts how easily we can consolidate the file so that we can make both braches identical in the merge.

Seeing is believing, so here is the demo.

http://1drv.ms/MIK1nR 

Many version control systems are unable to perform this kind of operation hard work. With TFS, this comes for free if you have a MSDN subscription to Visual Studio.