UPDATE 2-Canada's Metro buys Jean Coutu for $3.6 bln to stave off looming risks

TORONTO, Oct 2 (Reuters) - Metro Inc, Canada's third-biggest food retailer, on Monday agreed to buy pharmacy chain Jean Coutu Group for C$4.5 billion ($3.6 billion) for cash and stock, paying what analysts said was a "steep" premium to protect against risks facing the retail sector.