Securities and Exchange Commission
                              Washington, DC 20549

                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) - August 21, 1996

                         Minnesota Power & Light Company

                             A Minnesota Corporation
                           Commission File No. 1-3548
                   IRS Employer Identification No. 41-0418150
                             30 West Superior Street
                             Duluth, Minnesota 55802
                           Telephone - (218) 722-2641


Item 5.  Other Events.

         On August 21, 1996 Minnesota  Power & Light Company  (Minnesota  Power)
acquired  the  remaining  17 percent  ownership  interest  of ADESA  Corporation
(ADESA)  from the ADESA  management  shareholders.  ADESA will also  acquire the
remaining outstanding ownership interest in its subsidiary,  ADESA Canada. ADESA
is Minnesota Power's automobile auction business segment, which is headquartered
in Indianapolis,  Indiana. ADESA owns and operates automobile auction facilities
and performs  related  services  through which used cars and other  vehicles are
sold to franchised  automobile dealers and licensed used car dealers.  Customers
at ADESA's  auctions  include  domestic  and  foreign  auto  manufacturers,  car
dealers, fleet/lease companies, banks and finance companies.

         James P. Hallett,  43, an ADESA  Executive Vice President and President
of ADESA's  Canadian  operations,  has been named  president and chief executive
officer of ADESA.  Hallett is a 1975 graduate of Algonquin College in Ottawa. He
has an extensive background in the automobile industry, founding both the Ottawa
Auto Dealers Exchange and the Greater Halifax Automobile Exchange in 1990, which
subsequently  became  part  of  ADESA's  network  of  21  auto  auction  service

         Hallett succeeds D. Michael Hockett, 54, former chief executive officer
and founder of ADESA, who is retiring from ADESA and Minnesota  Power's Board of
Directors to devote more time to his long-held  personal  goals.  Larry Wechter,
41, former president of ADESA, and three other executives are also leaving ADESA
to pursue other entrepreneurial opportunities.

         "Jim Hallett is well respected  within the industry and at ADESA," said
Minnesota Power Chairman and Chief  Executive  Officer,  Edwin L. Russell,  in a
news release  dated  August 21, 1996.  "This move  reflects  our  confidence  in
ADESA's  future  growth and  contribution  to Minnesota  Power's  earnings,  and
accelerates our strategic goals for this business  segment.  ADESA will continue
to focus on operational efficiencies, earnings enhancements and making selective
acquisitions," Russell said.



Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                               Minnesota Power & Light Company

August 23, 1996                                        D. G. Gartzke
                                                       D. G. Gartzke
                                              Senior Vice President - Finance
                                                and Chief Financial Officer